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SIOX - Sio Gene Therapies to sell Arvelle stake to Angelini Pharma
Sio Gene Therapies Inc.
Sio Gene Therapies (SIOX) has agreed to sell its stake in Arvelle Therapeutics to Angelini Pharma, as part of that company’s cash acquisition of 100% of the stock of Arvelle Therapeutics for up to $960M.The transaction is expected to close in Q1 2021. Sio expects to receive an upfront payment of $11.8M with an additional $8.2M in milestone payments.Shares up 5% premarket.