In today's M&A news, Acorda Therapeutics announced that it will acquire Civitas Therapeutics for $525 million in cash.
Acorda will acquire CVT-301, a Phase 3 candidate for Parkinson’s disease and the rights to ARCUS, Civitas’s pulmonary delivery technology, and a manufacturing facility in Chelsea, Mass.
CVT-301 is a dry powder L-dopa formulation in blister-packed capsules and delivered with a proprietary reusable inhaler. The therapeutics for treatment of OFF episodes of Parkinson’s is expected to begin in early 2014.
If successful, the company plans to submit regulatory filings in the U.S. by the end of 2016.
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