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Ligand pays $32mm up front, as much as $9.8mm in CVRs for CyDex
15 Jun 2011
Executive Summary
Ligand Pharmaceuticals Inc. (building a portfolio of royalty revenue-generating assets) is making a move into the drug reformulation market through the acquisition of CyDex Pharmaceuticals Inc., a private company which will become a wholly owned subsidiary. The total value of the deal is at least $41.8mm including $32mm up front ($31.2mm plus $800k for a working capital adjustment) and $9.8mm in cash worth of contingent value rights (CVRs).
Deal Industry
- Biotechnology
- Pharmaceuticals
-
Pharmaceuticals
-
Drug Delivery
- Site Specific
-
Drug Delivery
Deal Status
- Final
Deal Type
-
Acquisition
- Acquisition of Private Biotech
- Full Acquisition
- Includes Contract
- Includes Earnout
- Intra-Biotech Deal
- Payment Includes Cash
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Ligand pays $32mm up front, as much as $9.8mm in CVRs for CyDex
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