Knight Therapeutics closes acquisition of Paladin

Knight Therapeutics (KHTRF) has completed the acquisition of the Paladin business, under the terms of the definitive Asset Purchase Agreement entered with Paladin Pharma. On the closing date, Knight paid approximately $107 million in cash including $22.3 million for the payment of inventory. The payment at closing was reduced by a holdback amount of $15.4 million, of which $10 million may be released under specific conditions and the remaining $5.4 million is expected to be used to settle certain liabilities. In addition, Knight may pay future contingent payments of up to US$15 million upon achieving certain sales milestones.