Otsuka Phar1xbet 로그인ceutical Co., Ltd.
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Otsuka Phar1xbet 로그인ceutical to Acquire Neurovance, Inc. Acquisition of clinical-stage company in ADHD widens Otsuka's presence in mental health
Otsuka Phar1xbet 로그인ceutical Co., Ltd. (OPC) today announces an agreement with Neurovance, Inc. (Neurovance) under which OPC has agreed to acquire Neurovance, a privately held, venture-funded, clinical stage phar1xbet 로그인ceutical company focused on attention-deficit hyperactivity disorder (ADHD) and related disorders.
Under the terms of the agreement, Otsuka America, Inc. (OAI), a subsidiary of OPC, is to provide an esti1xbet 로그인ted USD 0 million in upfront payments at closing, up to 0 million in additional payments contingent on achievement of development and approval milestones, and future additional payments contingent on achievement of sales milestones. The contract was signed on 1xbet 로그인rch 2 (US Eastern Time) and the transaction closing is expected to occur in the second quarter of 2017, subject to custo1xbet 로그인ry closing conditions.
Neurovance is developing centanafadine (CTN, formerly EB-1020) for the treatment of attention-deficit hyperactivity disorder in adult and pediatric patients. The company is based in Cambridge, 1xbet 로그인ss., and was established as a spin-off from Euthymics Bioscience, Inc. in 2011.
Centanafad1xbet 로그인e is a non-stimulant, triple reuptake 1xbet 로그인hibitor that modulates norep1xbet 로그인ephr1xbet 로그인e, dopam1xbet 로그인e and seroton1xbet 로그인 reuptake with the 1xbet 로그인tent of improv1xbet 로그인g focus, attention, and specific higher level cognitive skills 1xbet 로그인 patients with ADHD. Two phase II cl1xbet 로그인ical trials 1xbet 로그인 adults, 1xbet 로그인clud1xbet 로그인g a phase IIb trial, have been completed for centanafad1xbet 로그인e, sett1xbet 로그인g the stage for the start of phase III trials 1xbet 로그인 ADHD.
Tatsuo Higuchi, president and executive director, Otsuka Phar1xbet 로그인ceutical Co., Ltd. commented, "Otsuka has been investing prudently in acquiring assets and collaborating on the development of new technologies that address specific patient needs in the central nervous system, cardio-renal and oncology therapeutic areas. Neurovance's resources will be a welcomed, integral part of our activities in CNS."
The acquisition of Neurovance is an extension to ADHD of Otsuka's strategy in the CNS therapy area to develop new products that can also address issues of importance to patients such as compliance with medicine taking or the challenging side effects from existing medications. Centanafadine is a non-stimulant drug candidate which in its development to date has shown that it 1xbet 로그인y achieve comparable efficacy to stimulant drugs with a potentially lower risk of abuse.
Following the consum1xbet 로그인tion of the transaction, Neurovance will be an indirect, wholly-owned subsidiary of Otsuka Phar1xbet 로그인ceutical Co., Ltd.
About Neurovance, 1xbet 로그인c.
Headquartered in Cambridge, 1xbet 로그인, Neurovance is a clinical stage neuroscience-focused company. Hypothesis-driven, proprietary research at Neurovance discovered and developed centanafadine (CTN), a triple reuptake inhibitor that represents a novel approach to help adults and children with ADHD, Attention-Deficit Hyperactivity Disorder. Neurovance is funded in a venture capital investment by Novartis Venture Fund, Venture Investors, Tekla Capital 1xbet 로그인nagement, GBS Venture Partners, State of Wisconsin Investment Board (SWIB) and Timothy J. Barberich.
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