XenoTherapeutics completes acquisition of ESSA Pharma

XenoTherapeutics has completed its acquisition of ESSA Pharma Inc. (NASDAQ: EPIX), the companies announced. Xeno Acquisition Corp., a wholly owned subsidiary of XenoTherapeutics, acquired all outstanding common shares of ESSA for approximately $0.1242 per share, plus one contingent value right per share.

The contingent value rights represent the right to receive up to approximately $0.14 per share, payable within specified periods following the acquisition's close. The potential payment of $0.14 per common share represents up to $6.7 million in aggregate that may be distributed to holders depending on the outcome and related expenses of certain contingent liabilities.

On October 7, 2025, ESSA obtained a final order from the Supreme Court of British Columbia approving the arrangement. The company has requested that the Nasdaq Capital Market file a delisting application to report the delisting of the common shares from Nasdaq. ESSA expects to terminate the registration of the common shares under the U.S. Securities Exchange Act of 1934 approximately 10 days after the acquisition's closing.

Leerink Partners LLC served as ESSA's exclusive financial advisor for the acquisition. Blake, Cassels & Graydon, LLP and Skadden, Arps, Slate, Meagher & Flom LLP acted as ESSA's Canadian and U.S. legal counsel, respectively.

ESSA was a pharmaceutical company focused on developing therapies for prostate cancer treatment. XenoTherapeutics is a Massachusetts-based 501(c)(3) research foundation focused on advancing xenotransplantation through scientific research, clinical development, and public education.

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