Onconetix, Inc. (ONCO): M&A transaction — Blue Water Vaccines acquires Veru's ENTADFI for $100M; plans name change to Blue Water Biotech

Onconetix, Inc.

Total consideration $100M: $20M upfront (tranches through Sept 2024) plus up to $80M in sales milestones.
Assumes royalty and milestone obligations up to $22.5M from prior agreement.
Acquires ~125,000 bottles of ENTADFI, an FDA-approved BPH treatment.
Company will change name to Blue Water Biotech; CEO Joseph Hernandez leads.
Frank Jaeger to lead commercialization; previously doubled AndroGel sales to $1.3B.

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Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Onconetix, Inc. completed an acquisition involving Veru Inc. for $100,000,000 (closed 2023-04-19).

Action: acquisition
Counterparty: Veru Inc.
Consideration: $100,000,000
Closing: 2023-04-19

Exact text from the filing

of the Transaction The Company purchased substantially all of the Seller’s assets, rights and property related to the ENTADFI TM Business for a total possible consideration of $100,000,000 (as described below). The ENTADFI TM Business capitalizes on the demonstrable success of the FDA-approved drug ENTADFI TM for treating benign prostatic hyperplasia and

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Onconetix, Inc. entered into Purchase Agreement with Veru Inc. valued at total possible consideration of $100,000,000 (effective 2023-04-19).

Action: entry
Agreement: asset purchase
Counterparty: Veru Inc.
Value: total possible consideration of $100,000,000
Effective: 2023-04-19

Exact text from the filing

On April 19, 2023, Blue Water Vaccines Inc., a Delaware corporation (the “Company”), entered into an Asset Purchase Agreement (the "Purchase Agreement") with Veru Inc., a Wisconsin corporation (the "Seller").

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29 m&a transactions filed in the last 30 days. Browse all m&a transactions →

Onconetix, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-031189

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