OUR 9TH YEAR OF PROVIDING PROPRIETARY CAPITAL MARKETS INTELLIGENCE ON THE CANNABIS / HEMP / PSYCHEDELIC SECTORS
M&A Transactions
M&A Transaction Chart
Viridian publishes weekly data on M&A transactions in the Cannabis/CBD/Psychedelic industries. This data includes information about the buyer and seller (public/private, state/country location), deal size, deal structure (cash, stock, earn-out), pricing, share information, and deal implied valuation.
Week ended 10/13/2023
Week ended 10/13/2023
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M&A Transactions Commentary
Week ended 10/13/2023
- The Most Interesting M&A Deal of the Week:
- On October 10, 2023, Harmony Biosciences (HRMY: Nasdaq), a $1.4B market cap commercial stage pharmaceutical company that engages in the development and commercialization of treatments for neurological disorders, completed its acquisition of Zynerba (ZYNE: Nasdaq) for total consideration of $200M.
- The purchase price was composed of $60M of upfront cash and non-tradeable contingent value rights, which will pay up to an additional $140M, subject to the achievement of certain clinical, regulatory, and sales milestones. The $60M initial cash payment represents approximately 2.1x the book value of Zynerba’s equity.
- Zynerba’s lead product candidate, Zygel, can potentially treat 80,000 U.S. patients diagnosed with a rare neurological disorder called Fragile X syndrome and another 80,000 with another rare neurological condition called 22q deletion syndrome. Zygel contains a GMP-manufactured synthetic cannabinoid that does not contain THC.
Week ended 10/13/2023
This is the MA basic
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Viridian publishes weekly insights on the M&A landscape in the Cannabis/CBD/Psychedelic industries. These insights typically highlight the most interesting/meaningful M&A transactions for that week, and commentary on market conditions, M&A deal structures, target regions for acquirers, and industry sectors ripe for consolidation.