Confluence Life Sciences, a seven-year-old St. Louis startup bioscience company founded by former Pfizer researchers, is being acquired by Aclaris Therapeutics Inc. in a deal worth up to $100 million. Following the sale, Confluence plans to add new lab space next year in the city’s Cortex tech district.
In addition to $20 million in cash and stock, Confluence’s shareholders stand to receive up to $80 million after the sale closes, based on development and regulatory milestones and potential royalty payments on drug sales, the company said early Tuesday.
Philadelphia-based Aclaris is a biopharmaceutical company focused on developing therapies to address dermatological disease.
Confluence plans to retain its 40 employees based at BioGenerator Labs at 4320 Forest Park Parkway and add more jobs, officials said in a statement. BioGenerator, the investment arm of BioSTL, was a co-financier of Confluence when the company was formed in 2010, helping the startup build labs, purchase instrumentation, develop a business plan and raise capital. BioGenerator said the return based on its $1.4 million investment will be reinvested into new St. Louis companies.
Read more: St. Louis Post-Dispatch