Arcutis Biotherapeutics, Inc. completed the acquisition of Ducentis BioTherapeutics Limited from LifeArc Seed fund managed by LifeArc, Endowment Arm for approximately $430 million.
September 07, 2022
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Arcutis Biotherapeutics, Inc. (NasdaqGS:ARQT) entered into an agreement to acquire Ducentis BioTherapeutics Limited for approximately $430 million on September 7, 2022. Under the terms of the share purchase agreement, Arcutis will acquire the outstanding shares of Ducentis for an upfront cash payment of approximately $15.9 million and Arcutis stock of 610,258 shares, as well as future contingent payments up to an aggregate of approximately $400 million based on development and commercial success. Ducentis' Chief Scientific Officer, Rebecca Ashfield, will be retained by Arcutis as a consultant. Closing of the transaction will be subject to customary closing conditions and FDA approval. The deal is expected to close in third quarter of 2022. Andrew Ment, Camilla Rogers, Hannah Berry, Ross Finnie, Andrew Young, Daniel Spivey and Flora Johnston, Guy Dingley, Ansgar Simon, Mark Gillis, Sumaya Bouadi, Antonio Michaelides and Mark Welch of Covington & Burling LLP acted as legal advisors to Arcutis and Goodwin Procter LLP acted as legal advisor to Ducentis.
Arcutis Biotherapeutics, Inc. (NasdaqGS:ARQT) completed the acquisition of Ducentis BioTherapeutics Limited from LifeArc Seed fund managed by LifeArc, Endowment Arm on September 8, 2022.
Arcutis Biotherapeutics, Inc. is a commercial-stage medical dermatology company. The Company is focused on developing and commercializing treatments for dermatological diseases with high-unmet medical needs. Its portfolio is comprised of topical and systemic treatments with potential to treat immune-mediated dermatological diseases and conditions. Its lead product, ZORYVE, is for the treatment of plaque psoriasis, including psoriasis in the intertriginous areas, in individuals 12 years of age or older. ZORYVE cream is a once-daily topical formulation of roflumilast, a potent and selective phosphodiesterase-4 (PDE4) inhibitor. The Companyâs pipeline includes ARQ-255, ARQ-252, and ARQ-234. ARQ-255 is developed for alopecia areata. ARQ-252 is an alternative topical cream formulation of ivarmacitinib that the Company is developing for chronic hand eczema and vitiligo. ARQ-255 is developed for the treatment of alopecia areata.
Arcutis Biotherapeutics, Inc. completed the acquisition of Ducentis BioTherapeutics Limited from LifeArc Seed fund managed by LifeArc, Endowment Arm for approximately $430 million.