Vtesse acquired in $200 million deal

3 April 2017
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Vtesse, a privately-held US rare disease drug developer, has been acquired in a deal valuing the company at around $200 million by fellow USA-based Sucampo Pharmaceuticals (Nasdaq: SCMP).

Sucampo has paid an upfront consideration of $200 million. Sucampo funded the acquisition through the issuance of 2,782,678 shares of Sucampo Class A common stock and $170 million of cash on hand; no external financing was utilized.

Sucampo has also agreed to pay Vtesse shareholders contingent consideration based on mid-single digit to double-digit royalties on global net sales of its lead compound, VTS-270, based on increasing net sales levels, and a share of net proceeds that may be generated from the monetization of the pediatric review voucher, which is expected to be granted in connection with the approval of the product in the USA.

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