Cosmo Pharmaceuticals N.V. announced that it has sublicensed its ByFavo US rights to Acacia Pharma Group plc and acquired an initial 14.1% stake in it, whilst providing financing to further Acacia Pharma's US expansion. Cosmo at signing will receive a €10 million upfront payment in Acacia Pharma shares and will make a €10 million investment in Acacia Pharma shares, thus becoming a 14.1% shareholder with right to one seat on the Acacia Pharma Board of Directors. Cosmo will further receive €20 million in Acacia Pharma shares at ByFavo™ approval and first sales, thus increasing its stake, plus up to USD 105 million in commercial ByFavo™ milestones and the same royalties Cosmo owes to Paion. Cosmo will also grant a first loan of €10 million upon approval of BARHEMSYS® and a second loan of €25 million upon approval of ByFavo at market terms. Jefferies acted as exclusive financial adviser to Cosmo in connection with this transaction.