Heat Biologics To Bolster Presence In Biodefense Space With Elusys Acquisition

Heat Biologics Inc HTBX will acquire Elusys Therapeutics, a commercial-stage biodefense company and the manufacturer of Anthim (obiltoxaximab) Injection.

• The acquisition is expected to close during Q1 of 2022 and is subject to customary closing conditions. Specific deal terms were not disclosed.
• Anthim is approved for use in the U.S., Canada, Europe, and the U.K. under the brand name Obiltoxaximab SFL.
• The strategic acquisition of Elusys is intended to enhance Heat's immunotherapy portfolio and further position Heat to take a lead role in the biodefense space. 
• Elusys has been awarded over $350 million in research and development contracts and procurement orders from the Biomedical Advanced Research and Development Authority (BARDA).
• No stock or warrants will be issued in connection with the acquisition, and Elusys has no outstanding debt.
• As of September 30, Heat Biologics held approximately $108.9 million in cash, cash equivalents, and short investments.
• Price Action: HTBX shares are trading 0.75% lower at $3.95 during the market session on the last check Tuesday.