By Josh Beckerman
Pacira BioSciences bought the remaining 81% equity stake of GQ Bio Therapeutics, adding a platform expected to help development of treatments for musculoskeletal pain.
The deal is worth about $32 million, net of working capital and other transaction adjustments, to equity holders other than Pacira. The net purchase price includes $18 million of cash paid at closing, $8 million to be paid over three years pursuant to a key employee holdback agreement and a post-closing indemnity holdback of $6 million.
Pacira expects the deal to provide near-term and long-term financial benefits with the elimination of future milestone payments.
The Tampa, Fla., company and GQ Bio already had a partnership for development of a manufacturing process for PCRX-201 and other products.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
February 27, 2025 18:56 ET (23:56 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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