Zealand Pharma to acquire insulin pump maker Valeritas for USD 23 million
The agreement with Zealand Pharma, which was reached following a robust and extensive marketing process, provides total cash consideration of $23 million and includes the assumption of certain liabilities related to the ongoing business. It contemplates that Zealand, at the close, would continue the Company's commercially-focused operations and retain nearly all Valeritas employees.
New Jersey: Valeritas Holdings, Inc. ("Valeritas" or the "Company"), a medical technology company and maker of the V-Go Wearable Insulin Delivery the device, recently announced an agreement to sell substantially all of the business to Zealand Pharma A/S ("Zealand"), a Denmark-based biotechnology company. The transaction contemplates the retention of nearly the entirety of the Valeritas workforce.