Next Science (ASX: NXS), an Australian medical technology company focused on addressing biofilm-based infections, has agreed to a US$50 million buyout of its majority assets by Italian healthcare group Demetra Holding SpA. Next Science develops and commercialises its proprietary XBIO technology, designed to combat biofilm infections. Their range includes surgical irrigation and antimicrobial wound gels, addressing a substantial market across North America, Australia, and New Zealand.
The transaction follows a competitive sale process and represents a considerable premium over Next Science’s current market capitalisation. The sale encompasses regulatory approvals, contracts, intellectual property, inventory, records, and goodwill, while excluding assets related to the company’s durable medical equipment business. Next Science intends to distribute approximately US$30 million to its shareholders.
According to Next Science managing director Harry Hall IV, the board considers the asset sale the best option. He believes Demetra’s resources will better position Next Science’s innovations to improve patient care. The company’s directors have unanimously recommended that shareholders approve the transaction.
Piper Sandler & Co served as financial advisor. Latham & Watkins and HWL Ebsworth Lawyers acted as Next Science’s US and Australian legal advisors, respectively. Baker Donelson served as legal advisor to Demetra Holding.
