India, July 14 -- ESSA Pharma (EPIX) has entered into a definitive agreement with XenoTherapeutics, a non-profit biotechnology company, under which Xeno will acquire all of the issued and outstanding common shares of ESSA. XOMA Royalty (XOMA) said it is acting as the structuring agent and will provide financing to Xeno for the acquisition.
ESSA shareholders will receive a cash payment per share that will be determined based upon ESSA's cash balance at closing. Also, each ESSA shareholder will also receive one non-transferable contingent value right or CVR for each share that entitles the holder to receive a pro rata portion of up to $0.06 per CVR within 18 months following the close of the transaction.
ESSA will also apply to the Supreme ...