Transaction is potentially worth $115 million.
Endo Pharmaceuticals acquired all RxKinetix’ outstanding stock. The transaction includes an upfront payment of up to $20 million with the potential for up to an additional $95 million in earn-out payments, based on clinical development and regulatory milestones.
“The acquisition of RxKinetix is consistent with our strategic goal of expanding into therapeutic areas that are complementary to pain,” explains Peter A. Lankau, president and CEO.
RxKinetix is a privately held company headquartered in Colorado that develops new formulations of approved products for oral mucositis and other supportive-care oncology conditions. The company and its 21 employees will now operate as part of a wholly owned subsidiary of Endo Pharmaceuticals.
RxKinetix’ lead product is RK-0202, a topical oral-rinse with the active ingredient formulated in its ProGelz® drug delivery platform. RK-0202 is in Phase II for the prevention of oral mucositis. RxKinetix also has other products in early-stage development, based on the ProGelz technology.