Spruce Biosciences, Inc. /
Eiger BioPharmaceuticals, Inc.
Spruce Biosciences to buy Eiger BioPharmaceuticals assets
What happened
Spruce Biosciences, Inc. agreed to acquire certain assets used by Eiger BioPharmaceuticals, Inc. with respect to Avexitide through a stalking horse asset purchase agreement. The proposed purchase is subject to bankruptcy court approval and a court-supervised sale process.
The agreement sets a $10.0 million purchase price, subject to adjustments. Spruce was later designated the backup bidder in the auction, with its final backup bid at a net purchase price of $34.7 million.
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Spruce Biosciences to buy Eiger BioPharmaceuticals assets
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