Manfred Rüdiger, Ariceum Therapeutics CEO

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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