Formosa Pharmaceuticals, Inc. agreed to acquire Activus Pharma Co., Ltd. from Sosei Group Corporation (TSE:4565) for approximately TWD 370 million on August 4, 2017. The share transfer agreement is expected to be signed on August 8, 2017. On August 8, 2017, an agreement is signed. Under the terms of the transaction, Formosa Pharmaceuticals, Inc. will acquire 1,290 common shares and 667 Class A preferred shares at TWD 0.19 million per share. Sosei Group Corporation will receive $3.5 million in upfront cash consideration and in addition if operating income of Activus Pharma Co., Ltd. exceeds $5 million, 15% of royalties will also be received. The transaction has been approved by the Board of Directors of Formosa Laboratories, Inc., parent of Formosa Pharmaceuticals, Inc. The transaction is expected to complete on August 10, 2017.

Formosa Pharmaceuticals, Inc completed the acquisition of Activus Pharma Co., Ltd. from Sosei Group Corporation (TSE:4565) on August 10, 2017.