Tech Company M&A Transactions
Modis Therapeutics Acquisition
On 8/27/2019, Modis Therapeutics was acquired by Zogenix. Purchase price was estimated to be $400 million.
Transaction Overview
Company Name
Acquired By
Announced On
8/27/2019
Transaction Type
M&A
Amount
$400,000,000
M&A Terms
Under the terms of the deal, subject to the satisfaction of customary closing conditions, Modis will receive an upfront payment of $250m, comprised of $175m in cash and $75m in Zogenix common stock. The acquired company is also eligible to receive additional milestone payments consisting of $100m upon receipt of U.S. Food and Drug Administration approval of MT1621 in the U.S. and $50m upon European Medicines Agency approval in Europe. Zogenix will also pay a 5% royalty on any future net sales of MT1621.
Company Information
Company Status
Acquired or Merged
Industry
Biopharmaceutical
Mailing Address
409 13th St. 700
Oakland, CA 94612
USA
Oakland, CA 94612
USA
Phone
Website
Email Address
Overview
Modis Therapeutics was formed in 2016 through a collaboration with academic experts in mitochondrial biology to develop disease-modifying therapies for rare genetic diseases.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Joshua Grass
Chief Medical Officer
Joanne Quan
Vice President
Daniel DiPietro
Vice President
Stacey Harte
Vice President
Laurie Tsuruda
VP - Bus. Development
Peter Barber
VP - Finance
Aaron Mishel
VP - Manufacturing
Paul Glidden
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Where The Data Comes From
Our team works diligently to record all VC transactions involving tech companies. VC investment data records reported here are sourced from a variety of public sources. The information comes to us via our partnership with VentureDeal.com, an affiliated venture.
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