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Cerecor to acquire Avadel Pharmaceutical's pediatric assets

  • Cerecor (CERC +8.5%) has entered into definitive agreements with Avadel U.S. Holdings, Inc., and its subsidiaries, to purchase and acquire all rights to Avadel's marketed pediatric products.
  • The transaction is anticipated to close before Feb. 28 (2018).
  • The acquisition of these assets aligns with Cerecor's strategy to become a leading U.S. pediatric pharmaceutical company.
  • TTM net sales for the acquired products were ~$8M.
  • Under the terms of the asset purchase agreement, Cerecor will purchase Avadel's pediatric assets for nominal cash payment and will assume certain of Avadel's financial obligations to Deerfield CSF, LLC, which include a $15M loan due in Jan. 2021 and certain royalty obligations through Feb. 2026.
  • Press Release

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