Tricida, Inc.: M&A transaction — Tricida completes sale of Veverimer to Renibus for $250K upfront + up to $152.5M milestones

Tricida, Inc.

Asset sale closed March 9, 2023 after Bankruptcy Court approval on Feb 22.
Upfront cash payment of $250,000; contingent milestones tied to FDA approval and net sales up to $152.5M.
Company remains in Chapter 11 proceedings (Case No. 23-10024).
Veverimer (TRC101) was Tricida's lead drug candidate for chronic kidney disease.

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

Tricida, Inc. completed a disposition involving Renibus Therapeutics, Inc. for $250,000 at closing and certain contingent, milestone payments to the Company totaling up to $152.5 million (closed 2023-03-09).

Action: disposition
Counterparty: Renibus Therapeutics, Inc.
Consideration: $250,000 at closing and certain contingent, milestone payments to the Company totaling up to $152.5 million
Closing: 2023-03-09

Exact text from the filing

agreed to acquire the intellectual property, inventory, and certain related assets relating to Veverimer (formerly known as TRC101) (the “Compound”) for a cash payment of $250,000 at closing and certain contingent, milestone payments to the Company totaling up to $152.5 million, subject to the achievement of certain United States Food and Drug

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Source: SEC EDGAR

accession 0001595585-23-000023

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