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Pfizer sells former Icagen assets to XRpro for $500k up front

Executive Summary

Pfizer Inc. sold XRpro Sciences Inc. several ion channel assets for $500k up front ($125k at closing and $375k in three equal installments through March 1, 2016); $500k on the second anniversary of the deal (as long as XRpro's separate agreement with Pfizer has generated $4mm in revenue); and a quarterly earn-out starting in 2017 of 10% of revenue, maxing out at $10mm.

Deal Industry
  • Pharmaceuticals
  • Services
  • Biotechnology
    • Drug Discovery Tools
Deal Status
  • Final
Deal Type
  • Acquisition
    • Full Acquisition
    • Includes Contract
    • Includes Earnout
    • Payment Includes Cash for Equity

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