In November, EQRx publicly gave up on the final pieces of its low-cost medicines approach. But in a recent financial filing, the company revealed that was the moment when it also started down the path of selling itself, a decision that would ultimately lead to it getting acquired for its cash months later. A day before it announced that it would fully abandon its goals as a drug price disruptor in favor of “market-based pricing,” the company’s board told Goldman Sachs to reach out to 24 biopharma companies in the US, Europe and Asia about potential mergers, take-privates, partnership deals or other transactions, according to the securities filing. Nine months later, in August, EQRx said it would sell to Revolution Medicines in an all-stock transaction.
Read the full article: EQRx Had Limited Buyer Interest, Tried Acquiring Other Companies before Revolution Came for Its Cash //
Source: https://endpts.com/eqrx-had-limited-buyer-interest-tried-acquiring-other-companies-before-revolution-came-for-its-cash