(RTTNews) - LifeArc said that its portfolio company DucentisBioTherapeutics, a preclinical-stage biotechnology company focused on developing novel therapies for inflammation and autoimmune diseases, agreed to be acquired by ArcutisBiotherapeutics Inc. (ARQT). The Agreement values Ducentis at up to $400 million, including upfront cash payment of $16 million and Arcutis stock valued at about $14 million, plus future contingent payments based on development and commercial success.
Ducentis' lead pre-clinical asset, DS-234, is being developed for the treatment of atopic dermatitis, a rapidly growing, significantly underserved market.
Closing of the transaction will be subject to customary closing conditions.
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