ARCHIMED Successfully Completes Take-private of Esperion Therapeutics

ARCHIMED announces the close of its acquisition of Esperion Therapeutics, Inc. (formerly, NASDAQ: ESPR) (“Esperion”), a biopharmaceutical company bringing innovative cardiometabolic and rare/orphan disease therapies to market. The transaction is valued at up to approximately $1.1 billion (€962 million) in total equity value on a fully diluted basis, assuming full achievement of certain commercial-based milestones.

 

As of the deal’s successful close today, shareholders are entitled to receive $3.16 per share in cash, a 58 percent premium to Esperion’s closing price on A pril 30, 2026, the last trading day prior to the announcement of the transaction. As part of the transaction, shareholders will also receive the right to participate in contingent milestone payments of up to $100 million in the aggregate tied to future net sales performance. With the completion of this transaction, Esperion common stock has ceased trading and is no longer listed on the NASDAQ Stock Market.

The acquisition vehicle for Esperion is ARCHIMED’s MED Platform II fund.

Founded in 2008 and headquartered in Ann Arbor, Michigan, Esperion is a commercial-stage biopharmaceutical company that initially built its business on cutting-edge non-statin bempedoic acid-based drugs Nexletol^® (bempedoic acid) and Nexlizet^® (bempedoic acid and ezetimibe), which reduce Low-Density Lipoproteins (LDL, or bad cholesterol) in adults with high blood cholesterol, most specifically for those who are statin-intolerant. In March Esperion expanded its portfolio with the acquisition of Enbumyst^™ (bumetanide nasal spray), the first and only FDA-approved nasal spray for edema associated with congestive heart failure, hepatic disease and renal disease.

“We are excited to acquire a strong biopharmaceutical platform with a portfolio of differentiated products used by cardiologists and primary care physicians to address cardiovascular disease and associated conditions,” says ARCHIMED partner Justin Bateman. “This transaction marks a new chapter for Esperion, our employees and the patients and healthcare professionals we serve,” adds Esperion CEO Sheldon Koenig. Koenig and his team will continue to lead Esperion post-close.

Esperion is MED Platform II’s 10^th investment. Some 90% of MED Platform II’s investments have been first-time leveraged buyouts for the companies acquired. MED Platform II, more than two times oversubscribed, closed on €3.5 billion in June, 2023. According to Preqin data, the fund is a top quartile performer for its vintage year, as are all ARCHIMED funds. After the Esperion transaction, MED Platform II is more than 80 percent invested.

Unitranche debt for the Esperion transaction was provided by Pharmakon Advisors.