Lupin, Inc., the U.S. subsidiary of Lupin Ltd. said it had acquired Symbiomix Therapeutics, LLC for a cash consideration of $150 million, including a $50 million upfront and other time-based payments.
In addition, there are sales-based contingent payments.
The acquisition is funded through internal accruals. The transaction closed on Wednesday, the company said.
Lupin had entered into an option to acquire this firm earlier this year.
Symbiomix is a privately held company focused on bringing innovative therapies to market for gynaecologic infections that can have serious health consequences.