From $30M launch round to $400M buyout deal — with $250M upfront — in 10 short months
F-Prime’s Ben Auspitz has turned a modest investment in his newly launched biotech Modis Therapeutics into a quick score on the M&A side. And the deal comes with some lessons on the speed rare disease biotechs can move these days, as well as the value they can create in short order.
Razor focused on rare mitochondrial DNA depletion disorders, Oakland, CA-based Zogenix $ZGNX has come up with a $400 million deal to bag the company and its fledgling pipeline — just 10 months after Auspitz put together a $30 million A round. The buyout terms include $250 million in cash and stock along with $150 million for regulatory approvals in the US and Europe.
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