Biotie to Acquire Newron Creating a Leading European Biopharmaceutical Company Focused on Central Nervous System Drug Development

29-Sep-2011 - Finland

Biotie Therapies Corp. and Newron Pharmaceuticals S.p.A. announced that they have signed an agreement for Biotie to acquire Newron in a transaction valued at EUR 45 million. The Transaction is still subject inter alia to the approval by the EGM of Newron expected to be convened at the end of October 2011.

In acquiring Newron Biotie creates:

A deep pipeline with two drugs, nalmefene and safinamide, in late-stage Phase 3 development targeting alcohol dependence and Parkinson's disease, respectively
Two opportunities for near-term revenue generation in CNS markets
A critical mass and a broad and risk-diversified pipeline of clinical-stage compounds, focused on disorders of the central nervous system (CNS) and niche inflammatory disease
A biopharmaceutical company with significant CNS expertise, international operations and industry leading partners including Lundbeck, Roche, Merck Serono and UCB Pharma

Timo Veromaa, President and Chief Executive Officer (CEO) of Biotie, commented: "We are excited about our acquisition of Newron Pharmaceuticals, a company with a considerable presence in the CNS space and a compelling late-stage asset in safinamide with potential for significant near-term milestones. Our combined portfolio, addressing major market opportunities, promises to deliver differentiated novel medicines to patients in areas of unmet medical need.

"We see this transaction as a win-win for both companies' shareholders and it confirms Biotie as a key consolidator of high-quality CNS assets. We look forward to optimising the combined robust product pipeline to create value for our shareholders, partners and other stakeholders," he added.

https://www.bionity.com/en/news/134588/biotie-to-acquire-newron-creating-a-leading-european-biopharmaceutical-company-focused-on-central-nervous-system-drug-development.html