- TherapeuticsMD (NASDAQ:TXMD) has entered into pact to license its products to an affiliate of Mayne Pharma Group Limited for commercialization in the United States.
- In addition, TXMD has agreed to sell certain assets to Mayne Pharma to allow Mayne Pharma to commercialize the products, including inventory.
- TXMD to receive ~$153.1M in consideration at closing (including ~$13.1M for acquired net working capital), up to ~$42.6M in minimum royalty payments, and up to $30.0M in additional milestone payments.
- Mayne Pharma gains exclusive U.S. commercialization rights for TXMD’s products.
- The deal allows TXMD to recapitalize and transform into a pharmaceutical royalty company.
- Upon closure, Mayne Pharma will be responsible for development, regulatory filings, manufacturing, and commercialization of the Products.
- The company will retain its existing licensing agreements with Knight Therapeutics and Theramex HQ UK Limited.
The deal is not subject to any financing conditions and is expected to close at the end of 2022.