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Liminal BioSciences To Offload Plasma Collection and Plasma-Derived Therapeutics Business To Kedrion

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Liminal BioSciences To Offload Plasma Collection and Plasma-Derived Therapeutics Business To Kedrion
  • Liminal BioSciences Inc (NASDAQ: LMNL) has agreed to sell its plasma collection and plasma-derived therapeutics business to Kedrion S.P.A.
  • Under the Share Purchase Agreement, Liminal will enter into an option agreement with Kedrion for the right to acquire the remainder of the Company's plasma-derived business, and Prometic Biotherapeutics Inc, holder of the biological license application for Ryplazim (Plasminogen).
  • Upon closing of the transaction, Liminal would receive an aggregate purchase price of $17 million.
  • Kedrion has an option to acquire the remaining plasma-derived therapeutic business for $5 million.
  • If the option is exercised, Kedrion would assume all development, manufacturing, commercialization, and operating costs for Ryplazim.
  • Kedrion can extend the option for a maximum of three months in exchange for a payment of up to $3 million per month.
  • Liminal to receive up to 70% of net proceeds from the sale of Priority Review Voucher for which it is potentially eligible with possible FDA approval for Ryplazim.
  • Price Action: LMNL shares are up 0.4% at $4.30 on the last check Monday.
 

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