Pacira BioSciences Acquires Remaining 81% Equity Stake Of GQ Bio Therapeutics For About $32 Mln

(RTTNews) - Pacira BioSciences Inc. (PCRX) said that it has acquired the remaining 81 percent equity stake of GQ Bio Therapeutics GmbH for about $32 million, net of working capital and other transaction adjustments, to equity holders other than Pacira. The net purchase price includes $18 million of cash paid at closing, $8 million to be paid over three years pursuant to a key employee holdback agreement and a post-closing indemnity holdback of $6 million.

GQ Bio is a privately held biopharmaceutical company with a novel, high-capacity, local-delivery platform that makes genetic medicines more efficient and enables the use of large and multiple gene constructs. GQ Bio also brings to Pacira a preclinical portfolio of assets with disease-modifying potential in prevalent musculoskeletal diseases, and research and development talent, Pacira said.