Sorrento to Acquire ACEA Therapeutics for ~$488M

 Sorrento to Acquire ACEA Therapeutics for ~$488M

Sorrento to Acquire ACEA Therapeutics for ~$488M

Shots:

  • ACEA to receive up to ~$38M in shares of Sorrento common stock, $450M as additional payments upon the achievement of clinical & sales milestones along with 5 – 10% royalties based on annual sales of each product. The acquisition is expected to close in Q2’ 21
  • The acquisition includes Abivertinib, AC0058, AC0939, and ACEA’s compound library of small molecules which has the potential for numerous human disease indications, including NSCLC, BCL, SL, RA, MS and viral infections
  • The acquisition will also include ACEA’s state of the art cGMP facility located in Quzhou, China which has the capacity to manufacture up to 5,000 kg/year of APIs and 50,000,000 capsules of final drug product

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

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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