OOptimer Pharma to Sell Remaining Ownership in Optimer Biotechnology for $60 Million

Optimer Pharmaceuticals

today announced the sale of its stake in Optimer Biotechnology, Inc. (OBI) to current OBI shareholders. The sale is expected to result in gross proceeds to Optimer of U.S. $60 million and will be used to support the commercialization of DIFICID® (fidaxomicin) tablets and for other corporate purposes. The transaction is expected to close in two phases, subject to customary closing conditions and the completion of administrative matters. The first closing is expected to take place in the fourth quarter of 2012 and the second closing is expected to take place in the first quarter of 2013. "The sale of our stake in OBI completes the transition of OBI from a wholly-owned subsidiary of Optimer to an independent organization. We intend to utilize the capital realized from this investment to advance the commercial efforts in support of our core business, including our new initiatives designed to increase patient access to DIFICID," noted Pedro Lichtinger, President and CEO of Optimer.