Orthofix secured options to acquire eNeura, a portable, non-invasive transcranial magnetic stimulation device for treating migraine headaches.
Here are five things to know:
1.Orthofix entered into an option agreement allowing the company an 18-month option to acquire eNeura, which received an FDA clearance for SpringTMS last May.
2. Orthofix will provide $15 million collateralized loan to support SpringTMS commercialization in the United States and Europe.
3. If Orthofix decides to purchase eNeura, the company will pay $65 million to consummate the merger and eNeura will repay Orthofix the unpaid principal payable under the loan.
4. Orthofix may also make future milestone and royalty payments to eNeura.
5. Wells Fargo is the financial advisor to eNeura.