Servier to Acquire Day One Biopharmaceuticals for $2.5 Billion
Servier agreed to acquire Day One for $2.5B, gaining an approved childhood brain tumor drug and pipeline assets. SCRI and MSD launched a collaboration to expand community oncology trial access, while Recursion took full ownership of REC-102 as Nvidia and Novo exited.
French pharmaceutical company Servier has agreed to acquire Day One Biopharmaceuticals for approximately $2.5 billion in cash, a deal that would expand its cancer drug pipeline with an approved childhood brain tumor medicine and experimental therapies. Under the agreement announced Friday, Servier will pay $21.50 per share, a 68% premium to Day One's previous closing share price, with the transaction expected to close between April and the end of June.
Day One, founded in 2018, has focused on creating first- or best-of-their-kind therapies for childhood cancers. It had amassed $192 million in equity before going public in mid-2021 and raised another $160 million. Prior to the announcement, its shares were still down 20% from their initial price. Servier, which already markets the cancer drugs Tibsovo, Voranigo and Onivyde, recorded revenue of 6.9 billion euros (roughly $7.9 billion) in its 2024-2025 fiscal year, with its oncology business growing 55% to account for about a third of total revenue. The company has set a goal for its oncology segment to reach 4 billion euros by 2030. The acquisition adds Ojemda, an approved treatment for certain hard-to-treat brain tumors in children, which is also being evaluated in a late-stage study of children with genetic alterations that impair RAF enzymes.
In a separate oncology development, Sarah Cannon Research Institute and Merck & Co (MSD) have entered a collaboration aimed at increasing patient access to oncology clinical trials at community sites across the US. The partnership will use SCRI's Accelero delivery model, designed to improve the reach and efficiency of cancer studies. The model includes accelerated trial site start-up, electronic data transfer systems connecting electronic health records and case report forms, and initiatives to boost recruitment. Collaborations using Accelero have reported trial site activations up to 50% faster than conventional approaches, enrolment rates 19% higher than the national average of 7%, and 95% fewer changes to data. SCRI operates a network of roughly 1,500 oncology physicians, offering access to clinical studies at over 200 sites in more than 20 US states.
At Recursion Pharmaceuticals, major investors Nvidia and Novo Holdings A/S have fully exited their positions, while the company acquired full ownership of its joint venture for REC-102, consolidating control over the clinical asset. Recursion's shares last closed at $3.53, reflecting a 67.5% decline over one year and a 24.4% decline over 30 days. The pre-commercial stage biotech has seen a 55.5% decline over three years and a 16.0% decline year to date. Taking full ownership of REC-102 gives Recursion clearer control over development decisions and potential future economics from the program.