MIRM - Mirum acquires San Diego-based Satiogen in stock and cash combination

Mirum Pharmaceuticals (NASDAQ:MIRM) has acquired San Diego-based Satiogen Pharmaceuticals. Mirum will wholly own the Satiogen subsidiary, which will receive a 2% royalty. The total potential consideration consisted of a combination of 841,792 shares of common stock, 199,993 of which is subject to achievement of a milestone, and ~$2.8M in cash. The transaction reduces royalty and milestone obligations for LIVMARLI® and volixibat; and to generate positive cash flow. Pursuant to the deal, Mirum obtained all Satiogen licensing payments and Satiogen-owned intellectual property relating to LIVMARLI and volixibat.

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Mirum acquires San Diego-based Satiogen in stock and cash combination