Brief: Crescita Therapeutics acquires Intega Skin Sciences

Crescita Therapeutics

01/09/2016 14:14

Sept 1 (Reuters) - Crescita Therapeutics Inc  CTX.TO  
    * Crescita Therapeutics Inc announces acquisition of Intega 
Skin Sciences 
    * Crescita Therapeutics Inc says aggregate purchase price 
paid by company for 100 pct of Intega's equity consists of $8.0 
million 
    * Says repaid a bridge loan at closing of $3.0 million 
    * Provided a limited recourse guarantee of Intega's 
obligations under its $7.0 million term loan from Knight 
Therapeutics Inc 
    * Gregory Orleski, former CEO of Intega, appointed CEO of 
Crescita effective September 1, 2016 
    * Orleski replaces Dan Chicoine as chief executive officer 
    * Chicoine will remain as Crescita's executive chairman and 
member of company's board of directors 
    * Orleski, Thomas Schlader will also be joining Crescita 
board of directors 
    * Purchase price also include additional $2.0 million in 
milestones if certain financial targets are achieved by Intega 
in 2016, 2017 
    * Mario Laflamme has been appointed Crescita's new chief 
financial officer effective September 6, 2016 replacing Stephen 
Lemieux 
 
Source text for Eikon:  ID:nPn1CYNNsa  
Further company coverage:  CTX.TO  
 
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