Healthcare investment fund Gurnet Point said today it will acquire Innocoll Holdings for approximately $209 million.
Gurnet will put up $1.75 per share in cash and up to $4.90 in cash from a contingent value right, for a potential share value up to $6.65, the company said. During the offer period, Gurnet said it plans to provide a $10 million term loan to Innocoll to continue development of its pain-relieving collagen matrix Xaracoll and cover the cost of a new drug application with the FDA.
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