Cerecor to Acquire Aevi Genomic Medicine for ~$22.6M

 Cerecor to Acquire Aevi Genomic Medicine for ~$22.6M

Cerecor to Acquire Aevi Genomic Medicine for ~$22.6M

Shots:

  • Cerecor acquires Aevi Genomic Medicine in an all-stock transaction for $16.1M upfront + $2M (cash/ stock) as CVR on the enrollment of P-II study of AEVI-002, AEVI-006 or AEVI-007 within 24 mos. and ~$4.5M (cash/ stock) upon FDA’s NDA approval for AEVI-007 (MEDI2338) or AEVI-006 (OSI-027) within 60mos.
  • The focus of the acquisition is to expand Cerecor’s rare diseases portfolio with the addition of Aevi’s three clinical-stage programs and enhances its leadership with the appointment of Mike Cola as Chief Executive Officer and Dr. Garry Neil as Chief Medical Officer upon closing
  • The transaction is anticipated to be closed in Q1’20. Additionally, Cerecor is exploring strategic alternatives for its neurological assets as well as its one commercialized product Millipred

Click here to­ read full press release/ article | Ref: GlobeNewswire | Image:  PRNewswire

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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