Aug 08, 2017
ST. LOUIS –BioGenerator’s largest investment in any single company is paying off for St. Louis. Confluence Life Sciences, Inc. has been acquired by Aclaris Therapeutics, Inc. (NASDAQ: ACRS) for the St. Louis company’s world-class research team, intellectual property, and drug discovery assets.
The terms of the deal provide for Confluence to receive $20 million upfront, equally split between cash and stock and subject to customary adjustments. Confluence shareholders also are eligible to receive up to $80 million in contingent payments upon the achievement of certain development, regulatory, and commercial milestones, as well as potential royalty payments on drug product sales.
BioGenerator’s closing proceeds from its $1.4 million investment in Confluence will be reinvested into new St. Louis companies and used to improve the St. Louis innovation ecosystem. BioGenerator is the investment arm of BioSTL.