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- MYR
MYR Acquisition, Valuation, Funding & Investors
MYR was acquired by Gilead Sciences for $1.2B in December 2020, a 0.6x multiple on $2.2B of revenue.
MYR revenue at acquisition
$2.2B
Last twelve months · Dec 2020
MYR revenue multiple at acquisition
0.6x
EV/Revenue · Dec 2020
Cumulative funding MYR raised
$4M
across 1 funding round
About MYR
MYR Pharmaceuticals is a Bad Homburg, Germany-headquartered biotech firm focused on therapies for chronic hepatitis B/D infections. Its lead candidate bulevirtide advances in phase III for HDV, with orphan designations from EMA/FDA, PRIME status, and UK MHRA PIM designation. The NTCP inhibitor shows promise for dyslipidemia, NASH, and PBC, supported by phase I trials. Founded in 2011 from University of Heidelberg/INSERM technology, the company secured over EUR 30 million in venture funding including High-Tech Gründerfonds.
Founded
2011
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Product sales
Revenue
$2.2B (Dec 2020)
Valuation
$1.2B (acquired Dec 2020)
Sectors
MYR Acquisition
MYR was acquired by Gilead Sciences for $1.2B on 10 December 2020.
The acquisition price implies a 0.6x revenue multiple on $2.2B of revenue.
Before the acquisition MYR had raised $4M across 1 funding round.
MYR GmbH was a German biotechnology company focused on the development and commercialization of therapeutics for chronic hepatitis delta virus (HDV). The company's primary asset was Hepcludex (bulevirtide), a first-in-class entry inhibitor for HDV treatment that received conditional approval from the European Medicines Agency in July 2020. Hepatitis D is the most severe form of viral hepatitis and affects millions of patients globally, representing an area of significant unmet medical need. Gilead Sciences, a global leader in virology and liver disease treatments with nearly 20 years of experience in viral hepatitis therapeutics, agreed to acquire MYR to add Hepcludex as its first marketed product for HDV treatment and expand its hepatitis portfolio following declining revenue from hepatitis C drugs. Under the definitive agreement announced in December 2020, Gilead agreed to pay approximately €1.15 billion in upfront cash consideration plus potential milestone payments of up to €300 million contingent on U.S. FDA approval. The transaction was completed in 2021, with MYR becoming a wholly owned subsidiary of Gilead. The acquisition was expected to be neutral to non-GAAP earnings per share in the first two years post-close and moderately accretive thereafter.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 10 Dec 2020 | Strategic M&A | $1.2B | 0.6x |
MYR Funding History
MYR has raised a total of $4M across 1 funding round.
MYR funding rounds
| Date | Stage | Investors | Raised |
|---|---|---|---|
| Sep 2019 | Seed | JOINT JOURNEY (lead) | $4M |
Who has invested in MYR?
1 investor has backed MYR across its funding rounds, including JOINT JOURNEY.
Lead investors include JOINT JOURNEY.
MYR Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
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Start Free TrialMYR Competitors
MYR competitors include listed companies like Inhibrx Biosciences, SpyGlass Pharma, MannKind and Omeros, and private ones like Belief BioMed and Lila Biologics.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $1M | ($133M) | $1.2B | 6845.6x | ||
| Publicly listed | - | ($42M) | $1.2B | - | ||
| Private | - | - | $1.3B | - | ||
| Private | - | - | $1.2B | - | ||
| Publicly listed | $349M | $43M | $1.3B | 3.5x | ||
| Publicly listed | - | ($7M) | $1.2B | 11.3x |
MYR Public Comps
MYR is no longer listed, but its public comps include Inhibrx Biosciences, SpyGlass Pharma, SOTHEMA, MannKind, Omeros, Vor Biopharma, Uniphar, Pharma Mar, Everest Medicines and Duality Biotherapeutics.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1M | ($133M) | 994.0x | 6845.6x | (9.7x) | - | |||
| - | ($42M) | - | - | (23.7x) | (14.2x) | |||
| $330M | $73M | 4.0x | 3.5x | 18.2x | - | |||
| $349M | $43M | 4.3x | 3.5x | 34.3x | - | |||
| - | ($7M) | - | 11.3x | (179.8x) | - | |||
| - | ($699M) | - | - | (1.1x) | (3.3x) | |||
| $3.4B | $133M | 0.5x | 0.5x | 13.2x | 10.8x | |||
| $248M | $75M | 4.6x | 4.8x | 15.3x | 20.4x | |||
This data is available for Pro users. Sign up to see all MYR competitors and their valuation data. Start Free Trial | ||||||||
Common questions about MYR
| When was MYR founded? | MYR was founded in 2011. |
| Where is MYR headquartered? | MYR is headquartered in Bad Homburg, Germany. |
| Is MYR publicly listed? | No, MYR was acquired by Gilead Sciences in December 2020. |
| Who acquired MYR? | MYR was acquired by Gilead Sciences in December 2020. |
| How much was MYR acquired for? | MYR was acquired for $1.2B in December 2020, a 0.6x revenue multiple. |
| How much funding has MYR raised? | MYR has raised $4M across 1 funding round. |
| What was MYR's last funding round? | MYR's last funding round was a $4M seed round in September 2019, led by JOINT JOURNEY. |
| Who are MYR's investors? | MYR's investors include JOINT JOURNEY. |
| Which companies are comparable to MYR? | Companies comparable to MYR include Inhibrx Biosciences, SpyGlass Pharma, Belief BioMed, Lila Biologics, MannKind and Omeros. |
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