Regeneron To Acquire Decibel Therapeutics
09 Agosto 2023 - 9:14AM
Dow Jones News
By Dean Seal
Regeneron Pharmaceuticals agreed to acquire Decibel Therapeutics
for $4 a share, marking a 43% premium from yesterday's closing
price.
The Tarrytown, N.Y.-based company said the deal gives Decibel a
total equity value of about $109 million based on the amount
payable at closing, though that valuation goes up to $213 million
if certain clinical development and regulatory milestones are
achieved.
The transaction includes an additional non-tradeable contingent
value right to receive up to $3.50 a share in cash for hitting
those milestones on Decibel's lead investigational candidate,
DB-OTO, which is designed to provide hearing to people with
otoferlin-related hearing loss and is currently in its first
clinical trial.
The deal is expected to close in the third quarter.
Decibel shares were halted at $2.79 in premarket trading.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
August 09, 2023 07:59 ET (11:59 GMT)
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