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COSCIENS Biopharma Acquires Pharma Tech Business Nualtis For $15 Million Cash

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COSCIENS Biopharma (CSCI.TO) on Thursday said it acquired pharmaceutical-technology business Nualtis for $15 million in cash.

Cosciens paid $9 million, with the remaining $6 million due within six months. The acquisition terms also includes up to four earn-out payments for the fiscal years 2027 through 2030, a statement said. Nualtis is focused on oral thin-film drug delivery technologies, with applications for both human and animal health.

The company also announced a $20 million debenture financing, adding that it raised $6 million in the first tranche, and expects to close one or more additional tranches in the coming weeks. The debentures bear an interest rate of 15%, and mature on Sept. 10, 2027.

"Between Cosciens' existing cash resources and the proceeds of the first tranche of debentures, Cosciens continues to have excess cash after payment of the closing date purchase price and accounting for all related payments and transaction expenses," said Giuliano La Fratta, Chief Financial Officer.

Cosciens shares last traded Wednesday, closing at CA$7.61 on the Toronto Stock Exchange.

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