Definitive agreement to sell 90% stake in Company’s Zilentin subsidiary with option to acquire all of Altamira’s remaining inner ear development assets in Q4 2022
Company to receive immediate cash payment of $2 million, $25 million second upfront payment upon option exercise, and potential milestone payments of up to $55 million and future royalties
Buyer is a European family office seeking to continue and expand Altamira’s projects in hearing loss, tinnitus, and vertigo
Transaction represents important first step in Altamira’s strategy to focus solely on RNA delivery
Company actively working towards divestiture of BentrioTM before year-end
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