Clarus-backed ESSA Pharma to acquire Realm Therapeutics
Vancouver-based pharmaceutical company ESSA Pharma Inc (Nasdaq: EPIX; TSX-V: EPI) has agreed to acquire Realm Therapeutics Plc (Nasdaq: RLM), a Malvern, Pennsylvania-based maker of therapies for treating immune-mediated diseases. The all-stock deal values Realm's issued and outstanding shares at about US$21.5 million. It is expected to close by mid-year. The acquisition is supported by ESSA investor Clarus Ventures, a U.S. life sciences venture capital firm acquired by Blackstone Group last year. ESSA is also backed by Omega Funds. Founded in 2009, ESSA is focused on developing therapies for treating prostate and other cancers. It said the acquisition is intended to be supplemented by a financing involving insiders and other investors.
16 May 2019•7 mins read
