Leo Phar­ma spend­ing $14M up­front to ac­quire Tim­ber

Leo Phar­ma plans to ac­quire der­ma­tol­ogy biotech Tim­ber Phar­ma­ceu­ti­cals, which is de­vel­op­ing a treat­ment for a rare, ge­net­ic skin dis­ease.

The pri­vate­ly held Dan­ish bio­phar­ma will pay $14 mil­lion up­front, and Tim­ber can re­ceive up to an­oth­er $22 mil­lion in mile­stone pay­ments, bring­ing the trans­ac­tion’s to­tal po­ten­tial val­ue to $36 mil­lion. The deal is ex­pect­ed to close in the fourth quar­ter of this year.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER