Mirum Pharma Acquires Its Licensing Partner In Cash and Stock

Mirum Pharmaceuticals Inc (NASDAQ:MIRM) has acquired Satiogen Pharmaceuticals Inc in a cash and stock deal.
The deal consideration includes 841,792 shares, 199,993 of which are subject to the achievement of a milestone, and approximately $2.8 million in cash.
Mirum will wholly own the Satiogen subsidiary, which will receive a 2% royalty.
Satiogen was an existing licensing partner for Livmarli (maralixibat) oral solution and volixibat. Through the transaction, Mirum obtained all Satiogen licensing payments and Satiogen-owned intellectual property relating to Livmarli and volixibat.
The transaction will reduce total licensing royalty obligations for Livmarli and volixibat to high single-digit to low teens.
As of March 31, 2022, Mirum held cash, cash equivalents, restricted cash equivalents, and investments of $239.9 million.
Price Action: MIRM shares are down 2.11% at $25.04 during the market session on the last check Monday.