Lilly to Acquire Akouos for ~$610M
Shots:
- Lilly to acquire all outstanding shares of Akouos for a purchase price of $12.50/share (~ $487M) represents a premium of ~121% to the 30-day volume-weighted avg. price of Akouos's common stock ended on Oct 2022 & non-tradeable CVR per share of ~$3.00 in cash for a total consideration of ~$15.50/share (~$610M). The transaction is expected to close in Q4’22
- CVR holders will receive $1.00 for the 5th participant treated with AK-OTOF in P-I or P-I/II trial for hearing loss due to mutations in the otoferlin gene
- $1.00 with Akouos gene therapy for 2nd monogenic form of sensorineural hearing loss (excl. AK-OTOF & AK-antiVEGF) & $1.00 with gene therapy product (excl. AK-antiVEGF) in the P-III trial. Akouos stockholders will hold ~26% of Akouos's outstanding common stock
Ref: Lilly | Image: Lilly
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Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
