Arcutis Entered into an Agreement to Acquire Ducentis BioTherapeutics for ~430M
Shots:
- Arcutis to acquire the outstanding shares of Ducentis for an up front of $30M consisting of 610,258 shares of Arcutis common stock valued at ~$14.1M based on the avg. closing price over a 60-trading day period along with future contingent fees of ~$400M upon achievement of milestones. The transaction is expected to close in Q3’22
- Ducentis to receive a mid-single-digit percentage of annual net sales of its DS-234 exceeding $1.5B. The acquisition will use Arcutis' deep dermatology expertise & capabilities to advance Ducentis’ DS-234 for AD
- Under the terms of the purchase agreement, Arcutis will use its commercially reasonable efforts to develop & launch a product in the US if it receives the US FDA approval for DS-234
Ref: Globenewswire | Image: Ducentis BioTherapeutics
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