Zogenix to Acquire Modis Therapeutics for its MT1621

 Zogenix to Acquire Modis Therapeutics for its MT1621

Zogenix to Acquire Modis Therapeutics for its MT1621

Shots:

  • Modi to receive $250M up front including $175M in cash & $75M in Zogenix’s common stock, ~$150M as regulatory milestone comprising $100M on the US FDA’s approval and $50M on EMA’s approval of MT1621 with 5% royalty on sales of MT1621. The transaction is expected to close in Sept’2019
  • The focus of the acquisition is to advance Zogenix’s strategy to become a leader in rare disease portfolio with the addition of Modi’s MT1621 to the Zogenix’s pipeline of late-stage FINTEPLA programs
  • Modi’s MT1621 is an investigational deoxynucleoside combination therapy targeting the physiology of Thymidine Kinase 2 deficiency, being evaluated in P-II RETRO study assessing MT1621 in 28 patients with TK2d for 7yrs with results demonstrated treatment benefits in patients

Click here to­ read full press release/ article | Ref: Zogenix | Image: Prevention Genetics

Tuba Khan

Tuba Khan is Senior Editor at PharmaShots. She is curious, creative, and passionate about recent updates and innovation in the Life sciences industry. She covers Biopharma, MedTech, and Digital health segments. Tuba also has an experience of digital and social media marketing and runs the campaigns independently. She can be contacted on tuba@pharmashots.com

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