Otsuka Pharmaceutical Co., Ltd. (OPC) (TYO: 4578), a global healthcare company headquartered in Japan, is to buy Neurovance, a Cambridge, Mass.-based clinical stage neuroscience-focused company that develops treatments for ADHD, attention-deficit hyperactivity disorder.
Under the terms of the deal, expected to close in the second quarter of 2017, subject to customary closing conditions, OPC will pay Neurovance $100m up front in cash, plus up to $150m in additional payments contingent on achievement of development and regulatory approval milestones, plus additional future payments contingent on achievement of sales milestones.
Led by Jeff Bailey, Chairman and CEO, and Brian Goff, COO, Neurovance discovered and developed centanafadine (CTN), a triple reuptake inhibitor that represents a novel approach to help adults and children with ADHD.
The company is funded in a venture capital investment by Novartis Venture Fund, Venture Investors, Tekla Capital Management, GBS Venture Partners, State of Wisconsin Investment Board (SWIB) and Timothy J. Barberich.
FinSMEs
03/03/2017