Syncona to Acquire AGTC for ~$73.5M
Shots:
- Syncona will acquire AGTC for ~$23.5M ($0.34/share) in cash representing a premium of ~42% over AGTC’s closing stock price on Oct 2022 with an additional $50.0M (~$0.73/CVR) representing a premium of ~344% over AGTC’s closing stock price, based on the clinical success of XLRP & other pipelines assets. The transaction is expected to be close in Q4’22
- AGTC equity holders will also receive each share of AGTC common stock, one non-tradeable CVR. The acquisition advances Syncona’s gene therapy portfolio & supports AGTC-501, currently in late-stage clinical development for XLRP
- If the transaction is completed, Syncona will move AGTC-501 through P-II/III trials and toward product approval & assist AGTC in exploring options for AGTC's broader pipeline of gene therapy products
Ref: Globenewswire | Image: AGTC
Click here to read the full press release
Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
