CCCastle Creek Biosciences, Inc.PTPelthos Therapeutics Inc.

Overview

Pelthos Therapeutics agreed to acquire Castle Creek Biosciences in a stock-for-stock merger under which Castle Creek stockholders will receive 5,200,000 shares of Pelthos common stock, representing approximately 32.5% of Pelthos' fully diluted shares, plus contingent consideration of up to 5,800,000 additional shares upon FDA approval of D-Fi, up to $300 million in milestone payments, and 80% of the net proceeds from any priority review voucher.

Deal rationale

The combination is presented as creating a transformative biotechnology company by pairing Castle Creek's late-stage fibroblast-based cell and gene therapy platform, led by D-Fi, with Pelthos' FDA-approved dermatology portfolio and commercial infrastructure.

Timeline

1. AnnouncedOct 30, 2026

   Deal announced.

   Filing

Valuation and terms

Advisors

Parties