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Pfizer sells former Icagen assets to XRpro for $500k up front
Jul 2015
Executive Summary
Pfizer Inc. sold XRpro Sciences Inc. several ion channel assets for $500k up front ($125k at closing and $375k in three equal installments through March 1, 2016); $500k on the second anniversary of the deal (as long as XRpro's separate agreement with Pfizer has generated $4mm in revenue); and a quarterly earn-out starting in 2017 of 10% of revenue, maxing out at $10mm.
Deal Industry
-
Biotechnology
- Drug Discovery Tools
- Pharmaceuticals
- Services
Deal Status
- Final
Deal Type
-
Acquisition
- Includes Contract
- Payment Includes Cash
- Full Acquisition
- Includes Earnout
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Pfizer sells former Icagen assets to XRpro for $500k up front
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