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Deal comes amid companies’ bankruptcy filings.
Vyera Pharmaceuticals and Phoenixus AG have revealed their entrance into an asset purchase agreement regarding Daraprim and Vecamyl. The agreement comes amid the organizations’ filling for Subchapter V bankruptcy. The aggregate consideration to be paid for the sale and transfer of the purchased assets and the assignment of the certain contracts, subject to adjustment, shall be $650,000 together with the assumption of post-closing liabilities.
According to a company press release, DLA Piper LLP is serving as the Vyera's legal counsel, with SierraConstellation Partners LLC providing financial advice, and Alvarez and Marsal Securities LLC working as investment bankers.
Reference: Vyera Pharmaceuticals, LLC and Phoenixus AG Sign Asset Purchase Agreement to Sell Rights to Daraprim and Vecamyl. PR Newswire. August 1, 2023. Accessed August 3, 2023. https://www.prnewswire.com/news-releases/vyera-pharmaceuticals-llc-and-phoenixus-ag-sign-asset-purchase-agreement-to-sell-rights-to-daraprim-and-vecamyl-301890830.html