Transaction summary
- Target
- Dersimelagon rights
- Acquirer
- LEO Pharma
- Seller
- Tanabe Pharma
- Announced
- 2026-08-18
- Geography
- Denmark / Japan
- Type
- Acquisition
- Deal type
- Control
- Stake acquired
- -
- First added
- 2026-09-11
- Latest update
- 2026-09-16
Value and multiples
100% enterprise value
USD 435M
100% enterprise value | USD
Basis: Estimated
Reported price is assumed to be 100% EV unless stated otherwise. Partial-stake estimates are qualified in the basis notes.
EV / revenue
-
Period not stated
Basis: FundComb estimate
EV / EBITDA
-
EBITDA basis not stated
Basis: FundComb estimate
Amounts paid and other reported values
Original reported amounts and bases; a stake payment is distinct from the estimated whole-company valuation.
Consideration: USD 435M
BioPharma Dive reports that LEO Pharma disclosed up to $435 million in upfront and near-term milestone payments, plus potential downstream milestones and tiered royalties; this is not a fixed enterprise or equity value.
Basis
- LEO Pharma announced an agreement on 18 August 2026 to acquire worldwide rights to dersimelagon. Up to USD 435 million covers upfront and near-term milestones; additional milestones and royalties may apply. No ownership percentage or operating multiple is supported.
Source summary
Leo Pharma buys rare skin disease drug in $435M deal
ConfirmedBioPharma Dive reports that LEO Pharma will acquire rights to Tanabe Pharma's late-stage dersimelagon, with up to $435 million in upfront and near-term milestone payments plus contingent royalties.
Open sourceLEO Pharma agreement to acquire dersimelagon rights
ConfirmedLEO Pharma dated its agreement announcement 18 August 2026. The transaction concerns worldwide drug rights, includes an upfront and near-term milestone ceiling of USD 435 million, and remains subject to closing conditions. No equity ownership percentage is disclosed.
Open sourceContinue your research
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