Liminal BioSciences To Offload Plasma Collection and Plasma-Derived Therapeutics Business To Kedrion

Liminal BioSciences Inc LMNL has agreed to sell its plasma collection and plasma-derived therapeutics business to Kedrion S.P.A.
Under the Share Purchase Agreement, Liminal will enter into an option agreement with Kedrion for the right to acquire the remainder of the Company's plasma-derived business, and Prometic Biotherapeutics Inc, holder of the biological license application for Ryplazim (Plasminogen).
Upon closing of the transaction, Liminal would receive an aggregate purchase price of $17 million.
Kedrion has an option to acquire the remaining plasma-derived therapeutic business for $5 million.
If the option is exercised, Kedrion would assume all development, manufacturing, commercialization, and operating costs for Ryplazim.
Kedrion can extend the option for a maximum of three months in exchange for a payment of up to $3 million per month.
Liminal to receive up to 70% of net proceeds from the sale of Priority Review Voucher for which it is potentially eligible with possible FDA approval for Ryplazim.
Price Action: LMNL shares are up 0.4% at $4.30 on the last check Monday.