Japan based Otsuka Pharmaceutical Company (OPC) to acquire USA based Neurovance. The acquisition of Neurovance comes with the hefty sum of $100 million and additional $150 million contingent on achievement of development and approval milestones with additional payments contingent on achievement of sales milestones set by OPC.
The transaction is set to close by second quarter of 2017 but is subject to customary closing conditions.
Neurovance is a neuroscience company focused on the development and commercialization of therapies for adult and children with attention deficit hyperactivity disorders (ADHD). The company develops centanafadine, a triple reuptake inhibitor that modulates the activity of norepinephrine dopamine and serotonin in a specific ratio.
Neurovance, was incorporated in 2011 and is headquartered in Cambridge, Massachusetts, USA.
About Otsuka Pharmaceutical
Otsuka Pharmaceutical manufactures, distributes, exports, and imports pharmaceuticals, clinical testing equipment, medical devices and equipment, food products, cosmetics, and other related products. The company offers drugs for central nervous system, tuberculosis, ophthalmology, and oncology diseases; OTC drugs; and soy products, such as nutritional foods, beverages, and healthy snacks for human health and environmental challenges.
The company was founded in 1964 and is based in Tokyo, Japan.
Source: – Otsuka Pharmaceutical’s Press Release