Century Therapeutics, Inc. (NasdaqGS:IPSC) agreed to acquire Clade Therapeutics, Inc. from Syncona Limited (LSE:SYNC) for $45 million on April 11, 2024. The total potential consideration of up to $45 million includes up-front consideration of $35 million in a combination of cash and shares in Century comprised of $15 million in cash and approximately 4,535,333 shares of common stock. Future milestones have the potential of generating further consideration and if received in full will result in a further $10 million in consideration. For its 22% ownership position in Clade, Syncona anticipates up-front consideration at closing to be $9.3 million, an estimated £16.1 million write down from the 31 December 2023 valuation of £23.5 million. Goodwin Procter LLP acted as legal advisor and Lazard, Inc. (NYSE:LAZ) acted as financial advisor to Century Therapeutics, Inc. Cooley LLP acted as legal advisor to Clade Therapeutics.
Century Therapeutics, Inc. (NasdaqGS:IPSC) completed the acquisition of Clade Therapeutics, Inc. from Syncona Limited (LSE:SYNC) on April 11, 2024.