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