Irish drug firm looks set for €200m sale
The company — which has a suite of collagen-based medicines and bases in the US, Athlone, and Germany — has reached agreement to be acquired by international healthcare and life sciences investment fund Gurnet Point in a $209m (€196m) deal, which could complete as early as this week.
As part of the deal, Gurnet Point plans to provide a $10m term loan to Innocoll, which re-domiciled from Germany to Ireland last year, which will give it additional resources for the continued development of its Xaracoll treatment. The consideration includes certain potential payments related to the approval of Xaracoll, which is aimed at treating post-operative pain. US regulators last year rejected its application to market citing the need for more clinical trials.
