M&As this week: Cerecor Inc, Body and Mind Inc

24th November 2017 (Last Updated November 24th, 2017 00:00)

Cerecor Inc’s subsidiary ZPC Merger Corp has acquired Zylera Pharmaceuticals from TRx Pharmaceuticals LLC for $27m.

Cerecor Inc’s subsidiary ZPC Merger Corp has acquired Zylera Pharmaceuticals from TRx Pharmaceuticals LLC for $27m.

Cerecor is a US-based clinical-stage biopharmaceutical company that develops drugs for the treatment of neurological and psychiatric disorders.

The company aims to expand its footprint in paediatric healthcare through the acquisition.

Body and Mind Inc’s subsidiary DEP Nevada Inc has acquired the entire issued and outstanding membership units of Nevada Medical Group LLC (NMG) from the latter’s members.

The acquisition was made through a share exchange agreement, under which the acquirer company offered shares of its common stock to NMG members.

In addition, the firm cleared NMG’s outstanding loan of $230,000 to TI Nevada.