Date closed: 1/27/16
Value: C$45 million
On January 27, 2016, Trillium Therapeutics Inc. announced that it had acquired all of the outstanding shares of Fluorinov Pharma Inc.
Under the terms of the agreement, Trillium has agreed to acquire all of the outstanding shares of Fluorinov for an upfront payment of C$10 million in cash, plus up to C$35 million of additional future payments that are contingent on Trillium achieving certain clinical and regulatory milestones with an existing Fluorinov compound. Trillium will also have an obligation to make low to mid-single digit royalty payments on future sales of such compounds. The upfront payment will be subject to adjustment based on the net working capital of Fluorinov and other adjustments at the time of closing.
Trillium Therapeutics Inc., headquartered in Etobicoke, Ontario, is an immune-oncology company dedicated to the discovery and development of innovative cancer therapies.
Fluorinov Pharma Inc., headquartered in Toronto, Ontario, is a privately-held oncology company.
BLG represented Trillium Therapeutics Inc., with a team led by Jay Lefton and Paul Simon.