La Jolla Pharmaceutical Company (Nasdaq: LJPC), which is dedicated to the development and commercialization of innovative therapies that improve outcomes in patients suffering from life-threatening diseases, and Tetraphase Pharmaceuticals, Inc. (Nasdaq: TTPH), a biopharmaceutical company focused on commercializing its novel tetracycline XERAVA™ (eravacycline) to treat serious and life-threatening infections, announced Tuesday the closing of La Jolla’s acquisition of Tetraphase. La Jolla acquired Tetraphase for $43.0 million in upfront cash plus potential future cash payments of up to $16.0 million pursuant to contingent value rights (CVRs). The holders of the CVRs are entitled to receive payments of up to an additional $16.0 million in the aggregate upon the achievement of certain net sales of XERAVA in the United States.
Read the full article: La Jolla Pharmaceutical Company Announces the Closing of Acquisition of Tetraphase Pharmaceuticals, Inc. //
Source: https://www.globenewswire.com/news-release/2020/07/28/2069027/0/en/La-Jolla-Pharmaceutical-Company-Announces-the-Closing-of-Acquisition-of-Tetraphase-Pharmaceuticals-Inc.html