- Zealand Pharma (NASDAQ:ZEAL) has agreed to acquire Toronto-based Encycle Therapeutics and its lead candidate ET3764, an integrin alpha-4-beta-7-targeting peptide for the potential treatment of inflammatory bowel disease.
- Under the terms of the deal, Zealand will acquire Encycle for up to $80M in one-time contingent value rights, including $10M in earn-outs based on successful results from a Phase 2 clinical trial of ET3764.
- Zealand will host a conference call today at 10:00 am ET to discuss the tie-up.