Gurnet to acquire Corium as it heads for NDA

Healthcare investor Gurnet Point Capital will acquire drug delivery company Corium International Inc. (NASDAQ:CORI) for $12.50 per share in cash plus $0.50 per share in a contingent value right (CVR). The deal, including the CVR, values Corium at $500.4 million based on 38.5 million shares included in the offering, according to spokesperson Brad Miles.

The CVR payment will be triggered if Corium's lead candidate, Alzheimer's disease therapy Corplex Donepezil Transdermal System, receives FDA approval prior to March 31, 2020. Corium indicated in it's latest 10-Q that it expected to submit an NDA to FDA next quarter through the 505(b)(2) pathway using data from a Phase II trial that was completed in 2017...