Arcutis acquires privately-held biotech Ducentis BioTherapeutics
Sep. 07, 2022 6:09 PM ETArcutis Biotherapeutics, Inc. (ARQT)By: Anuron Mitra, SA News Editor
- Arcutis Biotherapeutics (NASDAQ:ARQT) on Wednesday said it would acquire Ducentis BioTherapeutics, a privately-held, preclinical-stage biotech developing therapies for inflammation autoimmune diseases.
- As per the share purchase agreement, Arcutis (ARQT) will acquire Ducentis' shares for an upfront cash payment of about $16M and ARQT stock valued at around $14M.
- With the acquisition, ARQT adds Ducentis' lead asset DS-234, an agonist of the CD200 receptor, which is an immune-regulatory receptor that plays a pivotal role in the maintenance of immune tolerance.
- ARQT said given the early-stage nature of the DS-234 program, the acquisition was not expected to have a material impact on its financial plans.
- ARQT stock earlier closed +2.2% at $21.54.