Actelion to acquire Ceptaris if Valchlor approved

Actelion Ltd. (SIX:ATLN) paid $25 million to Ceptaris Therapeutics Inc. (Malvern, Pa.) in exchange for the right to acquire Ceptaris for $225 million in cash if FDA approves Ceptaris' Valchlor mechlorethamine to treat early stage mycosis fungoides, a type of cutaneous T cell lymphoma (CTCL). A resubmitted NDA for the product is under FDA review, with an Aug. 27 PDUFA date. If Valchlor is not approved, Actelion still has the right to acquire Ceptaris within an undisclosed time period. Ceptaris shareholders also would be eligible for additional undisclosed milestones. Valchlor is a topical form of nitrogen mustard, an alkylating agent. FDA issued a complete response letter for the product in May 2012 (see BioCentury Extra, June 7, 2012). ...