Rocket Pharmaceuticals RCKT has announced the acquisition of Renovacor RCOR, which is expected to be completed in Q 1 of 2023.
Rocket Pharmaceuticals Inc is a clinical-stage biopharmaceutical company. It is focused on the development of gene therapies for rare and devastating pediatric diseases.
Renovacor Inc is a preclinical stage gene therapy company developing a pipeline of innovative and proprietary AAV-based gene therapies for BAG 3 gene mutation-associated diseases in areas of high unmet medical need. The therapeutic focus is on cardiovascular disease, with a lead program in BAG 3 dilated cardiomyopathy.
An acquisition is when a company, called the acquiring company, buys most or all of the company's shares in order to gain ownership. The acquirer can make decisions without the approval of the shareholders by buying more than 50% of a company's stock.
An acquisition can lead to a merger with the parent company, which makes it similar to a merger. This is why the two terms are commonly grouped as mergers and acquisitions M&A. However, in a merger, the leadership operations of both companies usually change dramatically, while during an acquisition this is less likely to happen.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.