Cerecor to acquire Ichorion Therapeutics in $26.6M transaction

Cerecor announced that it has agreed to acquire Ichorion Therapeutics. Ichorion is a privately-held biopharmaceutical company focused on developing treatments and increasing awareness of inherited metabolic disorders known as Inborn Errors of Metabolism. The terms of the agreement include the issuance of approximately 5,800,000 shares of Cerecor common stock at closing, subject to an end of 2019 lock-up, and development milestones worth up to an additional $15M, payable either in Cerecor stock or in cash in certain circumstances. The transaction was unanimously approved by the Board of Directors of both Cerecor and Ichorion and is expected to close later today.
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