Avalo sells 800 series assets to AUG for $150K upfront, up to $45M in milestones

Avalo Therapeutics, Inc.

Upfront payment of $150,000 plus potential $45M in milestone payments if first FDA approval for non-rare pediatric indication.
AUG assumes up to $150K of liabilities and all costs from transaction date; closing expected Q4 2023.
CEO says divestiture refocuses on immunology assets, improves cash flow and reduces resource utilization on non-core.
Contingent payments of up to 20% of proceeds from any sale of priority review voucher granted by FDA.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Avalo Therapeutics, Inc. entered into Asset Purchase Agreement with AUG Therapeutics, LLC valued at an upfront payment of $150,000 (effective 2023-09-11).

Action: entry
Agreement: asset purchase
Counterparty: AUG Therapeutics, LLC
Value: an upfront payment of $150,000
Effective: 2023-09-11

Exact text from the filing

On September 11, 2023, Avalo Therapeutics, Inc. (the " Company ") entered into an Asset Purchase Agreement (the " Purchase Agreement ") with AUG Therapeutics, LLC

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Avalo Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-032021

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