Harmony Biosciences to Acquire Zynerba for ~$200M
Shots:
- Harmony to acquire all outstanding shares of Zynerba for a purchase price of $1.1059/ share in cash, $60M in the aggregate at the closing of the transaction. The transaction is expected to close in Q4'23
- Zynerba shareholders are eligible for ~$2.5444 in CVRs per share upon completion of milestones for a total value of $140M incl. ~$15M/ (~$0.2747/share) upon completion of P-III trial for FXS, additionally $30M/ (~$0.5494/share) on positive P-III data readout before Dec 2024 or $20M/ (~$0.3663/share) before June 2025 or $10M/ (~$0.1831/share) after June 2025
- For regulatory milestones, $35M/ (~$0.6389/share) upon the US FDA approval in FXS; $15M/ (~$0.2707/share) for 2nd indication while $15M/ ($0.2702/share) & $30M/ ($0.5405/share) upon $250M & $500M aggregate net sales respectively. Zygel is being studied in a P-III for FXS while open-label P-II results of Zygel showed positive signals for 22q11.2 deletion syndrome
Ref: PR Newswire | Image: Harmony
Related News:- Zynerba Reports Results of Zygel in P-II (INSPIRE) Trial for the Treatment of Patients with 22q11.2 Deletion Syndrome
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