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LONDON — The French pharma company Servier said Friday that it would buy Day One Biopharmaceuticals, the maker of a drug for childhood brain tumors, in a deal worth roughly $2.5 billion.
Servier, which is privately held, is paying $21.50 a share in cash for Day One, a roughly 68% premium on the Bay Area biotech’s closing price on Thursday.
The deal’s centerpiece is Day One’s Ojemdawhich won U.S. approval in 2024 as a treatment for pediatric low-grade glioma, the most common form of childhood brain cancer. Servier also said the deal would expand its pipeline of experimental medicines for rare cancers.
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