German radiopharma biotech acquires British startup in tiny deal
Two private biotechs pulled off a small merger on Thursday.
Berlin-based Ariceum Therapeutics acquired the UK’s Theragnostics, the companies announced, for $2.5 million upfront in cash. Per the deal, Ariceum will get 100% of Theragnostics shares and be on the hook for up to $41.5 million in additional milestones.
Ariceum CEO Manfred Rüdiger said in a statement that the deal advances the company’s goal of “building and advancing” a pipeline portfolio, in addition to bringing an FDA-approved diagnostic into the fold. Greg Mullen, former Theragnostics CEO, is now Ariceum’s COO.
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