OPC to buy VC-backed Neurovance
Otsuka Pharmaceutical Co Ltd has agreed to acquire Cambridge, Massachusetts-based Neurovance, a clinical-stage pharmaceutical company focused on attention-deficit hyperactivity disorder and related disorders. According to terms of the deal, OPC subsidiary Otsuka America Inc will provide an upfront payment of $100 million at the closing, with up to $150 million in additional payments contingent on various milestones. The transaction is expected to be completed in the second quarter of 2017. Neurovance's backers include Novartis Venture Fund, Venture Investors, Tekla Capital Management, GBS Venture Partners and State of Wisconsin Investment Board.
3 March 2017•5 mins read
