Cerecor to Acquire Ichorion Therapeutics
Cerecor, Inc (CERC)
Last cerecor, inc earnings: 11/14 06:30 am
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Source: GlobeNewswire
Transaction worth approximately $26.6 Million in Stock Plus Potential Milestones Accelerates Cerecor’s Transformation Strategy; Strengthens Rare Disease Pipeline and Expands Pediatric Portfolio BALTIMORE, Sept. 25, 2018 (GLOBE NEWSWIRE) -- Cerecor Inc. (NASDAQ: CERC), a biopharmaceutical company focused on becoming a leader in development and commercialization of treatments for orphan disorders, announced today that it has agreed to acquire Ichorion Therapeutics, Inc. Ichorion is a privately-held biopharmaceutical company focused on developing treatments and increasing awareness of inherited metabolic disorders known as Inborn Errors of Metabolism (IEMs). The terms of the agreement include the issuance of approximately 5,800,000 shares of Cerecor common stock at closing, subject to an end of 2019 lock-up, and development milestones worth up to an additional $15 million, payable either in Cerecor stock or in cash in certain circumstances. The transaction was unanimously approved b
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