Sucampo Acquires Vtesse Inc.
April 3, 2017
ROCKVILLE, Md., and GAITHERSBURG, Md., April 03, 2017 (GLOBE NEWSWIRE) -- Sucampo Pharmaceuticals, Inc. (Sucampo) (NASDAQ:SCMP), a global biopharmaceutical company, and Vtesse Inc. (Vtesse), a privately-held rare disease company, today announced that Sucampo has acquired Vtesse for upfront consideration of $200 million. Sucampo funded the acquisition through the issuance of 2,782,678 shares of Sucampo Class A common stock and $170 million of cash on hand; no external financing was utilized.
Sucampo Announces Acquisition of Vtesse Inc.
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Sucampo is committed to improving the lives of NPC patients. We are excited to work on advancing this promising therapy. We understand and value the commitment of the patients, families, and physicians involved in the NPC community, and we are dedicated to strengthening the partnerships forged by Vtesse and advancing the development of VTS-270. Our experienced team is focused on developing treatments for life-threatening diseases, and we believe that combining our resources with Vtesse’s expertise can help bring this much-needed therapy to NPC patients around the world.