09 October 2012 | News | By BioSpectrum Bureau
Optimer Pharma to sell remaining stakes in Optimer Biotech
Following the transaction, Optimer Biotechnology will become an independent company
Singapore: Global biopharmaceutical company Optimer Pharmaceuticals will sell its stake in Taiwan-based Optimer Biotechnology to current OBI shareholders. The sale is expected to result in gross proceeds to Optimer of $60 million and will be used to support the commercialization of Dificid (fidaxomicin) tablets and for other corporate purposes.
The transaction is expected to close in two phases, subject to customary closing conditions and the completion of administrative matters. The first closing is expected to take place in the fourth quarter of 2012 and the second closing is expected to take place in the first quarter of 2013.
"The sale of our stake in OBI completes the transition of OBI from a wholly-owned subsidiary of Optimer to an independent organization. We intend to utilize the capital realized from this investment to advance the commercial efforts in support of our core business, including our new initiatives designed to increase patient access to Dificid," said Mr Pedro Lichtinger, president and CEO of Optimer.