TetraLogic Pharmaceuticals Corporation Announces Completion of Sale of SMAC Mimetic and HDAC Inhibitor Assets to Medivir AB
TETRALOGIC PHARMS CORP (TLOG)
US:NASDAQ Investor Relations:
investorshub.advfn.com/tetralogic-pharmaceuticals-corp-tlog-27741
Company Research
Source: GlobeNewswire
PAOLI, Pa., Dec. 29, 2016 (GLOBE NEWSWIRE) -- TetraLogic Pharmaceuticals Corporation (NASDAQ:TLOG) (“TetraLogic” or “Company”) and its wholly-owned subsidiary TetraLogic Research and Development Corporation (“TDRC”) today announced that they have completed the sale to Medivir AB (Nasdaq Stockholm:MVIR) (“Medivir”) of their SMAC mimetic program, including their clinical stage asset birinapant, and their topical HDAC inhibitor, remetinostat (SHAPE), to Medivir (the “Sale”) for a purchase price of (i) $12 million payable in cash at closing plus (ii) milestone payments of up to $153 million based on the development and commercialization of TetraLogic’s product candidates by Medivir subject to certain conditions and limitations described in the Asset Purchase Agreement for the Sale and (iii) additional earn-out payments based on annual net sales of birinapant, subject to certain conditions and limitations described in the Asset Purchase Agreement for the Sale as follows: the Company wil
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