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Date: 2010-07-20
Acquiring pharma company: Actelion (Switzerland)
Acquired biotech company: Trophos (France)
Amount: €125 to 195 million depending on market approval of olesoxime by the FDA and overall pipeline progression.
Terms of the agreement: Actelion has signed an acquisition agreement to purchase the French company Trophos that develops drugs for patients with neurodegenerative diseases.
The acquisition is contingent on the exercise of an option, whereas Actelion has the right to terminate the agreement at any time during the option period.
The option will become effective upon payment of € 10 million by Actelion and end two months after Actelion's receipt of the results of an ongoing Phase III study with olesoxime but not later than December 31, 2012. The purchase consideration will be paid in cash and is partially contingent on market approval of olesoxime by the FDA as well as overall pipeline progression of other compounds.
Olexosime has completed enrolment into a Phase III study in Amyotrophic Lateral Sclerosis (See clinical_studies). This study is expected to report data by the end of 2011.
Other: The two companies also agreed on a research collaboration to allow Actelion access to Trophos' proprietary CNS assay technology and compound library. The technology mimics neuronal degeneration processes in the test tube and is used to screen chemical compounds for their ability to block these processes.