Cephalon signs option agreement to acquire BioAssets
Cephalon, Inc and BioAssets Development Corporation (BDC), a privately held biopharmaceutical company, have signed an agreement that will provide Cephalon with an option to acquire BDC.
Under the terms of the option agreement, Cephalon will pay BDC an upfront payment of US$ 30 million and, assuming exercise of the option, an additional payment on the closing of the acquisition. BDC stockholders could also receive additional future payments related to regulatory and sales milestones. The option agreement is subject to customary closing conditions including the receipt of necessary BDC stockholder approvals.
Comments