Helsinn Buys Sapphire Therapeutics
Helsinn, a Swiss pharma group, has acquired Sapphire Therapeutics Inc., a Bridgewater, N.J.-based developer of drugs for a variety of cancer, gastrointestinal and metabolic conditions. No financial terms were disclosed, although VentureWire reports an up-front cash payment of approximately $45 million. The deal also is believed to include earn-outs. Sapphire had raised nearly $50 million in VC funding since 2001, from firms like BCM Technologies, Burrill & Co., BankInvest, Boston Millennia Partners, Cogene Ventures, Prospect Venture Partners, Novo AS and SV Life Sciences.
29 January 2009•3 mins read
