AcelRx to Acquire Tetraphase Pharmaceuticals to Expand its Product Portfolio

 AcelRx to Acquire Tetraphase Pharmaceuticals to Expand its Product Portfolio

AcelRx to Acquire Tetraphase Pharmaceuticals to Expand its Product Portfolio

Shots:

  • AcelRx acquires Tetraphase in an all-stock transaction, at an exchange ratio of 0.6303 shares of AcelRx for each share of Tetraphase, or ~$14.4M as of Mar 13, 2020 and a CVR that provides up to ~ $12.5M to Tetraphase stockholders upon the achievement of net sales of Xerava of $20M, $35M and $55M within the applicable timeframes by year-end 2021
  • Tetraphase to receive 14.6% of AcelRx fully diluted shares outstanding in the transaction with Tetraphase continuing as the indirect wholly-owned subsidiary of AcelRx. The transaction is expected to be closed in Q2’20
  • The companies have also signed a co-promotion agreement to commercialize Xerava for the cIAI and Dsuvia for the management of acute pain in medically supervised settings to generate significant commercial synergies

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

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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