Quince Therapeutics to Acquire EryDel SpA and its Phase 3 Asset Targeting Ataxia-Telangiectasia Involving $485M In Potential Earnout
Portfolio Pulse from Benzinga Newsdesk
Quince Therapeutics, Inc. (NASDAQ:QNCX) has announced plans to acquire EryDel SpA, a late-stage biotech company. The deal involves a stock-for-stock upfront exchange and potential downstream milestone cash payments totaling up to $485 million. Upon completion, EryDel stockholders will own up to 16.7% of the combined company. The transaction will also include the assumption of EryDel's $13 million European Investment Bank loan.
July 24, 2023 | 11:05 am
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Quince Therapeutics is acquiring EryDel SpA, which could potentially add value to the company's portfolio. However, the deal also includes the assumption of a $13 million loan.
The acquisition could potentially add value to Quince Therapeutics' portfolio, which could positively impact the company's stock price. However, the assumption of EryDel's $13 million loan could be a financial burden, potentially offsetting any positive impact.
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