M&A
confidence high
sentiment neutral
materiality 0.75
Homology closes $130M AAV manufacturing JV with Oxford; retains 20% stake plus put/call option
Q32 Bio Inc.
- Homology transferred AAV manufacturing assets to Newco for 175,000 units, then sold 130,000 units to OXB for $130M cash.
- OXB contributed $50M for 50,000 units; post-closing OXB owns 80%, Homology owns 20% of Newco.
- After three years, Homology can put (or OXB can call) Homology's Newco stake at 5.5x trailing revenue, subject to cap.
- Pro forma shows estimated gain of $145M on derecognition of assets and equity method investment of $45M as of Sept 30, 2021.