51 F
New York
Tuesday, April 20, 2021

Sio Gene [NASDAQ: SIOX] Agrees To Sell Its Share In Arvelle Therapeutics To Angelini Pharma

Must read

IAA [NYSE: IAA] Announces Expansion of Delivery Services in the UK

IAA, Inc. disclosed that its UK-based business unit has decided to expand its vehicle delivery services for its buyers. This expansion decision has...

ICON [NASDAQ: ICLR] Secures Multiple Categories in 2021 CRO Leadership Awards

ICON Public Limited Company has disclosed that it has won multiple categories in the annual CRO Leadership Awards. This is another greatest achievement...

Equinox Announces Sale of Pilar Gold Mine

Equinox Gold Corp. revealed Monday that it has decided to sell its Pilar Gold Mine in Brazil to Pilar Gold Inc. The firm...

OpGen [NASDAQ: OPGN] Announces Strategic Collaboration New York State Department of Health

OpGen, Inc. revealed that it has entered into a strategic collaboration deal with the New York State Department of Health. The focus of...

Sio Gene Therapies [NASDAQ: SIOX] reported that the company has settled upon selling its share in Arvelle therapeutic to Angelini Pharma. Angelini Pharma will purchase Arvelle’s 100% stock for $960 Million in cash. This transaction is subject to customary closing conditions. Furthermore, It is expected to close by the first quarter of 2021.

Sio Gene will receive a direct payment of $11.8 Million. Moreover, it will later receive additional payments of up to $8.2Million as regulatory and sales milestones. The amount can total up to nearly $20M through the share sale and these earnings signify a significant increase in Sio Gene’s first investment in Arvelle.

David Nassif CEO of Sio Gene said ” We applaud Arvelle, Angelini, and their investors. We are also proud of Sio Gene’s Role in the development of Arvelle. We are also happy to get a substantial combination of non-dilutive capital through this sale”

More articles

Latest article

Why Mer Telemanagement [NASDAQ: MTSL] Skyrocketed on Friday?

Shares of Mer Telemanagement Solutions Ltd skyrocketed during the trading session of Friday. The strong performance of the firm has indicated the positive...

Largo Resources Gets Approval for Listing on Nasdaq Stock Exchange

Largo Resources disclosed that it has finally obtained authorization from Nasdaq Stock Market LLC. As per the approval, the firm will now eligible to...

Aurora Mobile [NASDAQ: JG] Inks Agreement with Wanda Film

Aurora Mobile Limited disclosed Thursday that it has inked an agreement with Wanda Film Holding Co Ltd. Since its inception, Aurora Mobile has...

Brady [NYSE: BRC] Commence Tender Offer to Buy Nordic ID Oyj

Brady Corporation has inked an agreement with Nordic ID for its acquisition. The firm has commenced the tender offering to buy all the...

Cinedigm [NASDAQ: CIDM] Achieve Record Subscription and Ad-Supported User Growth Milestones

Shares of Cinedigm Corp. skyrocketed 19.30% after the firm reported the update about the subscription. The firm has achieved the best ever achievement...

Aurora Mobile [NASDAQ: JG] Signs Partnership Agreement with Yivi

Aurora Mobile Limited revealed that it has inked a collaboration deal with Hangzhou Yivi Intelligent Technology Co., LTD. (Yivi). Yivi and Aurora both...

Total [NYSE: TOT] Join Forces with Siemens Energy to Reduce LNG Related Emissions

Total SE has joined forces with Siemens Energy to explore the solution for the reduction of CO2 emissions. The firms have inked a...

Kaixin [NASDAQ: KXIN] Signs Cooperation Agreement with Jingdong

Kaixin Auto Holdings declared Monday that it has inked a deal with Jingdong Century Trade Limited. The agreement is the collaboration agreement between...