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Zubsolv

Orexo AB

Drug Names(s): OX219, PKX219

Description: OX219 is an improved version of PKX219, a product acquired from PharmaKodex, that utilizes Orexo's proprietary technologies. PKX219 was a fast-acting, easy-to-use combination of buprenorphine and naloxone for opioid-addiction therapy.

Deal Structure: In February 2009, Orexo AB announced the acquisition of PharmaKodex. Orexo will acquire the company for a consideration payable in two tranches, with the first tranche paid in new Orexo shares and the second tranche payable either in new Orexo shares or cash at Orexos option.

As consideration for the first tranche, the board of directors has resolved in accordance with the authorization from the Annual General Meeting held on April 3, 2008, to issue 843,992 new Orexo shares to the former shareholders of PharmaKodex. Additional Orexo shares, representing the same total value in Sterling as the first payment, may be issued in August 2009 unless Orexo opts to pay the second tranche amount in cash.

The transaction also provides for further conditional payments, based on the financial profits from licenses of existing PharmaKodex programs and technologies and certain milestones, but no royalties will be due on such programs or technologies.

Orexo owns all...See full deal structure in Biomedtracker

Partners: Mundipharma International Limited


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