January 10, 2020 / 6:37 AM / a month ago

BRIEF-Acacia Pharma Partners With Cosmo Pharmaceuticals

Jan 10 (Reuters) - Acacia Pharma Group PLC:

* ACACIA PHARMA ENTERS INTO STRATEGIC IN-LICENSING, INVESTMENT AND LOAN TRANSACTION WITH COSMO PHARMACEUTICALS N.V.

* TRANSACTION GRANTS TO GROUP EXCLUSIVE US COMMERCIALISATION RIGHTS TO BYFAVO™ (REMIMAZOLAM)

* A €30 MILLION PAYMENT FROM ACACIA PHARMA UPON US APPROVAL OF BYFAVO, CONSISTING OF €15 MILLION PAYABLE IN CASH AND €15 MILLION PAYABLE IN CASH OR NEW ORDINARY SHARES AT ACACIA PHARMA’S OPTION

* TRANSACTION HAS BEEN MADE ALONGSIDE AN EQUITY INVESTMENT AND DEBT FACILITY BY COSMO TO FINANCE MARKETING EFFORTS OF BOTH BARHEMSYS® AND BYFAVO Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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