Knight Therapeutics Inc. has entered into a definitive Asset Purchase Agreement (“APA”) with Endo Operations Limited (“Endo”) and Paladin Pharma Inc., to acquire the Paladin business.

At closing, Knight will pay an upfront payment of $120 million in cash, including inventory with a value of $20 million. In addition, Knight may pay future contingent payments of up to US$15 million upon achieving certain sales milestones.

RBC Capital Markets is serving as exclusive financial advisor to Knight, and Davies Ward Phillips & Vineberg is serving as Knight’s legal counsel.

The deal is expected to close in the middle of 2025, subject to customary closing conditions and regulatory approvals.