Novartis to acquire Regulus for

诺华将收购雷格勒斯公司

$7.00

7.00美元

per share in cash, with potential to receive an additional

每股现金，有可能额外获得

$7.00

7.00美元

per share in cash through a contingent value right, for a total equity value of up to approximately

每股现金通过或有价值权，总股权价值高达约

$1.7 billion

17亿美元

Transaction is expected to be completed in the second half of 2025, subject to customary closing conditions

预计交易将在2025年下半年完成，但需满足惯例的交割条件。

SAN DIEGO

圣地亚哥

,

，

April 30, 2025

2025年4月30日

/PRNewswire/ -- Regulus Therapeutics Inc. (Nasdaq:

/PRNewswire/ -- Regulus Therapeutics Inc.（纳斯达克：

RGLS

RGLS

), a biopharmaceutical company focused on the discovery and development of innovative medicines targeting microRNAs (the 'Company' or 'Regulus'), today announced that it has entered into an agreement and plan of merger with Novartis AG ('Novartis') and an indirectly wholly owned subsidiary of Novartis, pursuant to which Novartis will acquire Regulus for an initial payment of .

)，一家专注于发现和开发针对微小RNA的创新药物的生物制药公司（“公司”或“Regulus”），今天宣布已与诺华公司（“Novartis”）及其间接全资子公司达成合并协议和计划，根据该协议，诺华将以初始付款收购Regulus。

$7.00

7.00美元

per share in cash at closing, or

每股在收盘时的现金价，或者

$0.8 billion

8亿美元

. The upfront cash portion of the consideration represents a premium of 274 percent to Regulus' 60-day volume-weighted average stock price and 108 percent to Regulus' closing price on

此次交易的现金部分相当于Regulus公司60日成交量加权平均股价的274%溢价，以及Regulus公司收盘价的108%溢价。

April 29, 2025

2025年4月29日

. In addition, Regulus shareholders will receive a contingent value right (CVR) providing for payment of

此外，Regulus 股东将获得一份或有价值权（CVR），为其提供支付款项。

$7.00

7.00美元

per share, contingent upon the achievement of a milestone with respect to regulatory approval of Regulus' lead product candidate, farabursen. Total consideration including the CVR, if the milestone is achieved, would be approximately

每股，取决于Regulus主要候选产品farabursen监管批准相关里程碑的达成。如果该里程碑达成，包括CVR在内的总对价将约为

$1.7 billion

17亿美元

. The transaction has been unanimously approved by the Boards of Directors of both companies.

该交易已获得两家公司董事会的一致批准。

'We are excited to combine with Novartis to potentially bring farabursen to patients living with ADPKD, who currently have limited treatment options. Novartis' established global development and commercial capabilities will enable this important new medicine to reach patients if approved,' said

“我们很高兴与诺华合作，有望将法拉布森带给ADPKD患者，这些患者目前的治疗选择有限。诺华成熟的全球开发和商业能力将使这种重要的新药在获批后能够送达患者手中，”

Jay Hagan

杰伊·哈根

, CEO of Regulus Therapeutics. 'I am proud of the work that our team at Regulus has achieved in advancing this important new therapy and would like to thank all of the patients, investigators, and the ADPKD community in moving our program forward to this important milestone.'

，Regulus Therapeutics首席执行官。“我们Regulus的团队在推进这一重要新疗法方面取得的成就让我感到自豪，我要感谢所有患者、研究人员和ADPKD社区，推动我们的计划向前发展，达到这一重要的里程碑。”

'With limited treatment options currently available for patients suffering from ADPKD, farabursen represents a potential first-in-class medicine with a profile that may provide enhanced efficacy, tolerability and safety versus standard of care,' said

“对于目前治疗选择有限的ADPKD患者，法拉布森（farabursen）代表了一种潜在的首创药物，其特性可能比现有标准疗法提供更高的疗效、耐受性和安全性，”

Shreeram Aradhye

施里拉姆·阿拉德耶

, President, Development and Chief Medical Officer, Novartis. 'ADPKD is the most common genetic cause of renal failure worldwide. The team at Regulus has done meaningful foundational work with farabursen, and we look forward to investigating its potential further as we aim to bring a better treatment option to patients in need.'.

诺华公司总裁、发展与首席医学官表示：“ADPKD是全球肾衰竭最常见的遗传原因。Regulus团队在farabursen方面进行了有意义的基础工作，我们期待进一步研究其潜力，旨在为有需要的患者提供更好的治疗选择。”

Completion of the transaction is expected in the second half of 2025, subject to the satisfaction or waiver of customary closing conditions, including the tender of shares representing at least a majority of the total number of Regulus' outstanding shares, and other customary closing conditions and regulatory clearance.

预计交易将在2025年下半年完成，但需满足或豁免惯常的交割条件，包括至少代表Regulus公司已发行股份总数多数的股份投标，以及其他惯常的交割条件和监管批准。

Until that time, Regulus will continue to operate as a separate and independent company..

在那个时候之前，Regulus将继续作为一个独立的公司运营。

Evercore is serving as exclusive financial advisor, and Latham & Watkins LLP is serving as legal counsel to Regulus.

Evercore担任独家财务顾问，Latham & Watkins LLP担任Regulus的法律顾问。

Transaction Details

交易明细

Under the terms of the merger agreement, Novartis, through a subsidiary, will initiate a tender offer to acquire all of Regulus' outstanding shares for a price of

根据合并协议的条款，诺华将通过一家子公司发起要约，以收购Regulus所有已发行股份，价格为

$7.00

7.00美元

per share in cash at closing, plus a non-tradeable CVR for an additional

每股在收盘时以现金支付，加上一个不可交易的或有价值权（CVR），可额外获得

$7.00

7.00美元

per share in cash, payable upon the achievement of a specified milestone with respect to regulatory approval of farabursen. The closing of the tender offer will be subject to certain conditions, including the tender of shares representing at least a majority of the total number of Regulus' outstanding shares, and other customary closing conditions and regulatory clearance.

每股现金，将在实现与farabursen监管批准相关的特定里程碑时支付。要约收购的完成将取决于某些条件，包括至少代表Regulus总流通股多数的股票的要约，以及其他惯例的成交条件和监管批准。

Upon the successful completion of the tender offer, a subsidiary of Novartis will be merged with and into Regulus and any remaining shares of common stock of Regulus will be cancelled and converted into the right to receive the same merger consideration (including the contingent value right) per share payable in the tender offer..

在成功完成要约收购后，诺华的一个子公司将与Regulus合并，Regulus的任何剩余普通股将被取消并转换为接收相同合并对价（包括或有价值权）的权利，每股在要约收购中支付。

About Regulus

关于Regulus

Regulus Therapeutics Inc. (Nasdaq:

Regulus Therapeutics Inc.（纳斯达克：

RGLS

RGLS

) is a biopharmaceutical company focused on the discovery and development of innovative medicines targeting microRNAs. Regulus has leveraged its oligonucleotide drug discovery and development expertise to develop a pipeline complemented by a rich intellectual property estate in the microRNA field. Regulus maintains its corporate headquarters in .

）是一家专注于发现和开发针对微RNA的创新药物的生物制药公司。Regulus利用其寡核苷酸药物发现和开发的专业知识，建立了一个由丰富的微RNA领域知识产权资产支持的研发管线。Regulus的公司总部设在。

San Diego, CA.

加利福尼亚州圣迭戈。

Important Information About the Tender Offer

关于要约收购的重要信息

The tender offer in connection with the transaction described above has not yet commenced. This communication is not an offer to buy nor a solicitation of an offer to sell any securities of the Company. The solicitation and the offer to buy shares of the Company common stock will only be made pursuant to a tender offer statement on Schedule TO, including an offer to purchase, a letter of transmittal and other related materials that Novartis and Redwood Merger Sub Inc.

上述交易相关的要约收购尚未开始。本通讯并非购买公司任何证券的要约，亦非出售证券的要约邀请。公司普通股股份的要约和购买将仅根据Novartis和Redwood Merger Sub Inc.提交的附表TO中的要约收购声明进行，包括购买要约、转送函及其他相关材料。

('Merger Sub') intend to file with the Securities and Exchange Commission ('SEC'). In addition, the Company will file with the SEC a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the tender offer. Once filed, investors will be able to obtain a free copy of these materials and other documents filed by Novartis, Merger Sub and the Company with the SEC at the website maintained by the SEC at .

（“Merger Sub”）打算向美国证券交易委员会（“SEC”）提交文件。此外，公司还将就要约收购向SEC提交一份Schedule 14D-9的征集/建议声明。一旦提交，投资者将能够在SEC维护的网站上免费获取这些材料以及诺华、Merger Sub和公司向SEC提交的其他文件。

www.sec.gov

www.sec.gov

. Investors may also obtain, at no charge, any such documents filed with or furnished to the SEC by the Company under the 'investors' section of the Company's website at

投资者还可以在公司网站的“投资者”部分免费获取公司向SEC提交或提供的任何此类文件，网址为

https://ir.regulusrx.com/

https://ir.regulusrx.com/

. Further risks and uncertainties that could cause actual results to differ materially from the results anticipated by the forward-looking statements are detailed from time to time in the Company's periodic reports filed with the SEC, including the Company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.

可能导致实际结果与前瞻性陈述中预期的结果存在重大差异的进一步风险和不确定性，会不时在公司向美国证券交易委员会（SEC）提交的定期报告中详细说明，包括公司最近的年度报告（Form 10-K）、季度报告（Form 10-Q）以及当前报告（Form 8-K）。

These filings, when available, are available on the investor relations section of the Company's website mentioned above or on the SEC's website at .

这些文件（如有）可在上述公司网站的投资者关系部分或美国证券交易委员会 (SEC) 的网站 上查阅。

https://www.sec.gov

https://www.sec.gov

.

。

INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THESE DOCUMENTS WHEN THEY BECOME AVAILABLE, INCLUDING THE SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 OF THE COMPANY AND ANY AMENDMENTS THERETO, AS WELL AS ANY OTHER DOCUMENTS RELATING TO THE TENDER OFFER AND THE MERGER THAT ARE FILED WITH THE SEC, CAREFULLY AND IN THEIR ENTIRETY PRIOR TO MAKING ANY DECISIONS WITH RESPECT TO WHETHER TO TENDER THEIR SHARES INTO THE TENDER OFFER BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING THE TERMS AND CONDITIONS OF THE TENDER OFFER..

投资者和证券持有人被建议在这些文件可用时仔细阅读它们的全部内容，包括公司的14D-9表格征集/建议声明及其任何修订，以及与要约收购和合并相关的任何其他向美国证券交易委员会（SEC）提交的文件，在做出是否将其股份参与要约收购的任何决定之前，因为这些文件包含重要信息，包括要约收购的条款和条件。

Forward-Looking Statements

前瞻性声明

The statements included above that are not a description of historical facts are forward-looking statements. Words or phrases such as 'believe,' 'may,' 'could,' 'will,' 'estimate,' 'continue,' 'anticipate,' 'intend,' 'seek,' 'plan,' 'expect,' 'should,' 'would' or similar expressions are intended to identify forward-looking statements.

上述包含的陈述中，不是对历史事实的描述的为前瞻性陈述。诸如“相信”、“可能”、“能够”、“将”、“估计”、“继续”、“预期”、“打算”、“寻求”、“计划”、“期望”、“应该”、“会”等词语或类似表述旨在识别前瞻性陈述。

The forward-looking statements are based on the Company's current beliefs and expectations and include, but are not limited to: statements regarding beliefs about the potential benefits of the transaction; the planned completion and timing of the transactions contemplated by the Agreement and Plan of Merger, dated as of .

前瞻性陈述基于公司当前的信念和预期，包括但不限于：关于交易潜在好处的陈述；协议和合并计划中设想的交易的计划完成和时间安排，日期为 。

April 29, 2025

2025年4月29日

(the 'Merger Agreement'), by and among the Company, Novartis and Merger Sub. Risks and uncertainties that could cause results to differ from expectations include: uncertainties as to the timing and completion of the tender offer and the merger; uncertainties as to the percentage of the Company's stockholders tendering their shares in the tender offer; the possibility that competing offers will be made; the possibility that various closing conditions for the tender offer or the merger may not be satisfied or waived, including the failure to receive any required regulatory approvals from any applicable governmental entities (or any conditions, limitations or restrictions placed on such approvals); risks that the milestones related to the contingent value rights are not achieved; the effects of disruption caused by the transaction making it more difficult to maintain relationships with employees, collaborators, vendors and other business partners; risks related to diverting management's attention from the Company's ongoing business operations; the risk that stockholder litigation in connection with the transactions contemplated by the Merger Agreement may result in significant costs of defense, indemnification and liability; and risks and uncertainties pertaining to the Company's business, including the risks and uncertainties detailed in the Company's public periodic filings with the SEC, as well as the tender offer materials to be filed by Novartis and Merger Sub and the Solicitation/Recommendation Statement to be filed by the Company in connection with the tender offer..

（“合并协议”），由公司、诺华和合并子公司共同签订。可能导致结果与预期不同的风险和不确定性包括：关于要约收购和合并的时间与完成情况的不确定性；公司股东在要约收购中出售其股份的比例不确定；可能会有竞争性报价的出现；要约收购或合并的各项成交条件可能无法满足或被豁免，包括未能获得任何适用政府机构的必要监管批准（或对这些批准施加的任何条件、限制或约束）；与或有价值权相关的里程碑未能实现的风险；交易造成的中断影响，导致维持与员工、合作伙伴、供应商及其他业务伙伴的关系更加困难；管理层的注意力从公司的持续业务运营中分散所带来的风险；与合并协议所设想的交易相关的股东诉讼可能导致高额的辩护、赔偿和责任费用；以及与公司业务相关的风险和不确定性，包括公司在SEC公开备案文件中详细说明的风险和不确定性，以及诺华和合并子公司将提交的要约收购材料和公司将提交的与要约收购相关的征求/建议声明中涉及的风险和不确定性。

You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and the Company undertakes no obligation to revise or update these statements to reflect events or circumstances after the date hereof, except as required by law..

您被提醒不要过分依赖这些前瞻性陈述，这些陈述仅截至本日期有效。所有前瞻性陈述均受此警示性声明的全面限制，公司不承担修订或更新这些陈述以反映本日期之后发生的事件或情况的义务，除非法律要求。

SOURCE Regulus Therapeutics Inc.

来源：Regulus Therapeutics Inc.

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