Sucampo buys Vtesse for $200M in cash and stock

|About: Sucampo Pharmaceutical... (SCMP)|By:, SA News Editor

Sucampo Pharmaceuticals (NASDAQ:SCMP) acquires Gaithersburg, MD-based Vtesse, a privately held rare disease firm, for $200M, comprised of 2,782,678 newly issued Class A common shares and $170M of cash on hand.

Vtesse's lead product candidate is Phase 2b/3-stage VTS-270 which targets cholesterol storage. Its initial indication is treating an inherited lipid storage disorder called Niemann-Pick Disease Type C. The company says it expects to launch VTS0270 commercially in 2019.