Mergers & Acquisitions ·
CorMedix agrees to acquire Heron Therapeutics assets for $145M cash plus ~14.6M shares
CRMDCorMedix Inc.
CorMedix Inc. has entered into a definitive asset purchase agreement to acquire substantially all of the assets of Heron Therapeutics, including four commercial products: ZYNRELEF, APONVIE, CINVANTI, and SUSTOL. The transaction involves an upfront consideration of $145 million in cash and approximately 14.6 million shares of CorMedix common stock. Additionally, Heron is eligible for up to $55 million in earn-out payments tied to ZYNRELEF sales milestones and a 5% royalty on certain product sales exceeding $25 million annually through 2029. The deal is expected to close in the first quarter of 2027, subject to Heron stockholder approval and regulatory clearances. CorMedix operates in the pharmaceutical industry, focusing on hospital and acute care therapeutics.