Tra­vere inks bile acid di­vesti­ture; Madri­gal com­pletes NASH ap­proval re­quest

Tra­vere Ther­a­peu­tics is of­fload­ing its bile acid prod­ucts as Mirum Phar­ma­ceu­ti­cals picks up the rare liv­er dis­ease as­sets for $210 mil­lion up­front.

Mirum could pay an­oth­er up to $235 mil­lion in sales-based biobucks un­der the agree­ment dis­closed Mon­day. The deal cen­ters around the med­ica­tions Chol­bam and Chen­odal and is ex­pect­ed to close this quar­ter, the com­pa­nies said.

The deal will help “mean­ing­ful­ly” ex­tend Tra­vere’s cash run­way and fo­cus on its re­cent IgAn ap­proval and oth­er as­sets, CEO Er­ic Dube said in a press re­lease. — Kyle LaHu­cik

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