Organon (NYSE: OGN) to Acquire Dermavant including its Innovative Dermatologic Therapy, VTAMA Cream, 1%

Organon (NYSE: OGN), a global healthcare company with a mission to improve the health of women throughout their lives, and Dermavant Sciences Ltd. announced today that they have entered into a definitive agreement, under which Organon will acquire Dermavant, a Roivant (ROIV) company dedicated to developing and commercializing innovative therapeutics in immuno-dermatology.

Dermavant’s novel product, VTAMA? (tapinarof) cream, 1%, for the topical treatment of mild, moderate, and severe plaque psoriasis in adults, was approved by the U.S. Food and Drug Administration (FDA) in May 2022. VTAMA cream is a once-daily, steroid-free, topical applied to affected areas with no safety label warnings or precautions and without restrictions on location and duration of use or body surface area. The FDA is reviewing a Supplemental New Drug Application (sNDA) for VTAMA cream as a potential treatment for atopic dermatitis (AD) in adults and children two years of age and older, with Prescription Drug User Fee Act (“PDUFA”) action expected in the fourth quarter of calendar year 2024.

Psoriasis is a common chronic inflammatory skin disease affecting over 8 million Americans 20 years of age or older1 and 125 million people worldwide2. Atopic dermatitis is one of the most common inflammatory skin conditions impacting approximately 16.5 million adults and more than 9.6 million children in the U.S.3 In adults, women are impacted disproportionately4. Psoriasis presents a significant impact to quality of life5, and atopic dermatitis is associated with a higher disease burden6 for women compared to men.

“We look forward to combining Dermavant’s strong dermatology commercial and field medical organization in the U.S., with Organon’s market access capabilities, regulatory expertise and worldwide commercial reach. This will allow us to bring VTAMA cream, a patient-focused innovation in dermatology, providing an effective, well-tolerated, non-steroidal treatment option to the millions of people living with plaque psoriasis and potentially atopic dermatitis,” said Kevin Ali, Organon Chief Executive Officer. “The acquisition will deliver on Organon’s objective of improving the health of women throughout their life stages by investing in treatments for conditions that affect women differently.”

“This is another example of Roivant’s ability to offer creative win-win collaborations. We are able to meet Organon’s structural objectives and to create a transaction that is very attractive to both Roivant and Dermavant stakeholders, while still preserving meaningful economics tied to the potential future success of VTAMA,” said Matt Gline, Chief Executive Officer of Roivant. “Additionally, we are excited for VTAMA cream to benefit from Organon’s commercial scale. We believe they have the capabilities and reach to ensure patients globally can access this important medicine.”

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Descartes (NASDAQ: DSGX) Acquires MyCarrierPortal

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Descartes (NASDAQ:DSGX) Systems Group (Nasdaq: DSGX), the global leader in uniting logistics-intensive businesses in commerce, announced that it has acquired Assure Assist, Inc., doing business as MyCarrierPortal (“MCP”), a leading provider of carrier onboarding and risk monitoring solutions for the trucking industry.

Based in the US, MCP’s solutions help freight brokers and shippers quickly set up carrier requirements through an onboarding platform that gathers information on carriers and screens them for suitability to deliver loads/shipments based on the broker’s risk and compliance criteria. Truck carriers are screened for legitimacy, insurance compliance, and an acceptable safety record. Carriers that are onboarded to the platform are monitored on an ongoing basis to help ensure continued compliance. If a carrier falls out of compliance, the customer is notified to take appropriate action with that carrier.

“Carrier fraud and cargo theft is an ongoing problem in the transportation industry. This acquisition is another investment to help enable improved Know-Your-Carrier (KYC) capabilities that are critical to improve supply chain performance and fraud reduction,” said Dan Cicerchi, General Manager of Transportation Management at Descartes. “We actively connect with hundreds of thousands of carriers and thousands of brokers and shippers. Many of these participants have expressed their desire for us to further extend our investments in fraud prevention. The combination of MCP and our Descartes MacroPoint FraudGuard tool presents a differentiated solution for our customers to efficiently onboard carriers while enhancing visibility and compliance and reducing fraud risk.”

“We remain committed to adding solutions to our Global Logistics Network that help our customers manage the complete lifecycle of shipments in a secure and efficient manner,” said Edward J. Ryan, Descartes’ CEO. “MCP directly complements our investment in?MacroPoint, and we’re excited to welcome the employees, customers and partners into the Descartes family.”

MCP is headquartered in the US. Descartes acquired MCP for up-front consideration of approximately $USD 24 million satisfied with cash on hand, plus potential performance-based consideration. The maximum amount payable under the all-cash performance-based earn-out is $USD 6 million, based on the combined business achieving revenue-based targets in each of the first two years post-acquisition. Any earn-out is expected to be paid in fiscal 2026 and fiscal 2027.

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