Insight journal - Dealtalk

XTL Biopharmaceuticals Signs Letter of Intent to Acquire a Drug Development Company

Posted on 18 April 2012

Tags: , ,

XTL Biopharmaceuticals signed a non-binding letter of intent to acquire a company.

Pursuant to the letter, XTL intends to acquire all of the share capital of the Target Company in consideration for shares of XTL as well as milestone payments throughout the clinical development of the Target Company's products.  The milestone payments will be paid in cash or in shares of XTL.

To the best of XTL's knowledge, the Target Company is developing novel chemical combination therapies with clinical and commercial added-value, on the basis of known, active and approved-for-use molecules. To the best of XTL's knowledge, the Target Company has been approved by the FDA to commence phase 3 clinical trials.

Pursuant to the letter of intent, both parties shall provide their best effort to enter into a binding agreement within fourteen (14) days from the date of the letter of intent and to complete all the prerequisites to the transaction within ninety (90) days.



Read: more on dealtalk in pharma, biotech, life science partnering deal news, insights and glossary

View: Current Partnering’s Partnering Scorecard – view top life science partnering deals by value

View: Current Partnering’s Deal Metrics – the latest deal trend infographics for life science deal making

View: Current Partnering’s Big Pharma Deal Making Scorecard – latest trends in big pharma deal making activity

View: Current Partnering’s Big Biotech Deal Making Scorecard – latest trends in big biotech deal making activity

Signup: Current Partnering Dealmakers Update – weekly newsletter providing the latest life science industry deal news, deal making trends, partnering events – sign up now

Signup: Current Agreements Deals Review – monthly newsletter - reviewing the previous month’s life science deal making – partnering, M&A and financing – sign up now

Subscribe: Current Agreements life sciences partnering, M&A and financing deals database – find out more

Follow us on: LinkedIn Current Partnering | LinkedIn Business Development Network | @Currentpartner on Twitter

Print Friendly, PDF & Email

Leave a Reply