8-K
filed October 10, 2023, 7:59 PM ET
ticker ZOMDF
CIK 0001684144
M&A
confidence medium
sentiment positive
materiality 0.80
Zomedica acquires Qorvo Biotechnologies, maker of TRUFORMA platform, for undisclosed sum
Zomedica Corp.
- Purchase price not disclosed; acquisition includes QBT's manufacturing and R&D staff in Plymouth, MN.
- Deal eliminates future license fees, transition fees, and royalties due to QBT under prior agreement.
- Zomedica assumes QBT's manufacturing line, aiming for margin improvements and accelerated assay development.
- Zomedica updated long-term supply agreement with Qorvo Inc. for BAW sensors.
- Company considering strategic options for human health portion (Omnia platform) to focus on veterinary.
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
Zomedica Corp. entered into Purchase Agreement with Qorvo US, Inc. (effective 2023-10-04).
- Action
- entry
- Agreement
- asset purchase
- Counterparty
- Qorvo US, Inc.
- Effective
- 2023-10-04
Exact text from the filing
On October 4, 2023, Zomedica Inc. (“ZomInc”), a wholly owned subsidiary of Zomedica Corp. (the “Company”), entered into an LLC membership interest purchase agreement (the “Purchase Agreement”) with Qorvo US, Inc. (the “Seller”), pursuant to which ZomInc acquired 100% of the issued and outstanding membership interest of Qorvo Biotechnologies, LLC
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Zomedica Corp. terminated Development and Manufacturing License Agreement with QBT (effective 2023-10-04).
- Action
- termination
- Agreement
- license
- Counterparty
- QBT
- Effective
- 2023-10-04
Exact text from the filing
each of (i) the Transition and Support Agreement and (ii) the Development and Manufacturing License Agreement, in each case, entered into between QBT, the Company and ZomInc dated as of January 17, 2023 was automatically and immediately terminated
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.7
Zomedica Corp. entered into Transition Services Agreement with QBT (effective 2023-10-04).
- Action
- entry
- Counterparty
- QBT
- Effective
- 2023-10-04
Exact text from the filing
(the “Seller”), pursuant to which ZomInc acquired 100% of the issued and outstanding membership interest of Qorvo Biotechnologies, LLC, a Delaware limited liability company (“QBT”) in exchange for the purchase price set forth in the Purchase Agreement. QBT develops the TRUFORMA® Platform that utilizes innovative Bulk Acoustic Wave sensor technology to provide a non-optical and fluorescence free system for the detection of disease at the point of care.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Zomedica Corp. terminated Transition and Support Agreement with QBT (effective 2023-10-04).
- Action
- termination
- Agreement
- license
- Counterparty
- QBT
- Effective
- 2023-10-04
Exact text from the filing
each of (i) the Transition and Support Agreement and (ii) the Development and Manufacturing License Agreement, in each case, entered into between QBT, the Company and ZomInc dated as of January 17, 2023 was automatically and immediately terminated
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.7
Zomedica Corp. amended BAW Sensor Supply Agreement with QBT (effective 2023-10-04).
- Action
- amendment
- Agreement
- supply
- Counterparty
- QBT
- Effective
- 2023-10-04
Exact text from the filing
(the “Seller”), pursuant to which ZomInc acquired 100% of the issued and outstanding membership interest of Qorvo Biotechnologies, LLC, a Delaware limited liability company (“QBT”) in exchange for the purchase price set forth in the Purchase Agreement. QBT develops the TRUFORMA® Platform that utilizes innovative Bulk Acoustic Wave sensor technology to provide a non-optical and fluorescence free system for the detection of disease at the point of care.
View on SEC.gov
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