Sunovion Pharmaceuticals has signed a m&a definitive agreement to acquire Elevation Pharmaceuticals,.
The acquisition includes Elevation Pharmaceuticals’ EP-101 product, an inhalation solution of a long-acting muscarinic antagonist bronchodilator that is in Phase 2b clinical trials for the treatment of patients with moderate to severe chronic obstructive pulmonary disease .
According to the terms of this m&a agreement, Sunovion will make an upfront payment of US$100 million to the shareholders of Elevation on closing of the acquisition of its shares, and thereafter it will make development milestone payments for EP-101 up to US$90 million.
Furthermore, after the regulatory approval, Sunovion will also make commercial milestone payments up to US$210 million.
Subsequent milestone payments up to $30 million could occur contingent upon the successive development of additional new programs.
For further deal information visit Current Agreements (subscription required)
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