TetraLogic, Medivir deal
Medivir will acquire birinapant and suberohydroxamic acid phenyl ester (SHAPE) from TetraLogic for $12 million up front in cash; TetraLogic will subsequently delist from NASDAQ and terminate all remaining employees by Dec. 1. TetraLogic shareholders are eligible for up to $96 million in milestones for SHAPE, including $20 million development, $45 million in regulatory milestones and $31 million in commercialization milestones, plus tiered royalties capped at 13%. TetraLogic is also eligible for up to $130 million in milestones for birinapant, including $20 million in development milestones and research support and $110 million in commercial milestones, plus tiered royalties capped at 10%. ...