NewcelX agrees to sell Mazindol portfolio to REA Holdings
NCEL•NewcelX entered a binding term sheet to sell its worldwide Mazindol portfolio to REA Holdings for $30,000 in cash and shares representing 9.4% of REA after closing. The deal includes up to $55 million in potential milestones and tiered royalties of 2%-8%.
1. Sale terms
NewcelX entered a binding term sheet to sell its worldwide Mazindol portfolio to REA Holdings. Upfront consideration totals $500,000, comprising $30,000 in cash and shares representing 9.4% of REA's fully diluted equity following closing. The agreement also provides for up to $55 million in potential milestone payments and tiered royalties of 2%-8% on annual global net sales of Mazindol products.
2. Closing conditions
REA would assume future development and commercialization costs, allowing NewcelX to focus on its cell-therapy pipeline for Type 1 diabetes. The transaction remains subject to definitive documentation and customary closing conditions.
