Zogenix to Acquire Modis Therapeutics for its MT1621

Shots:

• Modi to receive $250M up front including $175M in cash & $75M in Zogenix’s common stock, ~$150M as regulatory milestone comprising $100M on the US FDA’s approval and $50M on EMA’s approval of MT1621 with 5% royalty on sales of MT1621. The transaction is expected to close in Sept’2019
• The focus of the acquisition is to advance Zogenix’s strategy to become a leader in rare disease portfolio with the addition of Modi’s MT1621 to the Zogenix’s pipeline of late-stage FINTEPLA programs
• Modi’s MT1621 is an investigational deoxynucleoside combination therapy targeting the physiology of Thymidine Kinase 2 deficiency, being evaluated in P-II RETRO study assessing MT1621 in 28 patients with TK2d for 7yrs with results demonstrated treatment benefits in patients

Click here to­ read full press release/ article | Ref: Zogenix | Image: Prevention Genetics