Biotie, Synosia deal
Biotie will acquire Synosia in a stock deal valued at €93.6 million ($120.8 million) based on Biotie's close of €0.58 on Jan. 10, before the deal was announced. Biotie will gain Synosia's pipeline of CNS candidates and the combined company will have nine clinical stage candidates. The boards of both companies approved the offer, which is subject to approval by Biotie shareholders at an extraordinary general meeting on Feb. 1.
Biotie's lead product is nalmefene, for which partner H. Lundbeck A/S (CSE:LUN, Copenhagen, Denmark) plans to submit an MAA to treat alcohol addiction next half. Nalmefene is an opioid receptor antagonist. Biotie also has: ronomilast, an oral phosphodiesterase-4 (PDE-4) inhibitor, which is in Phase I testing to treat chronic obstructive pulmonary disease (COPD); and BTT-1023, a human mAb against vascular adhesion protein-1 (VAP-1; SSAO) that has completed a Phase I trial for rheumatoid arthritis (RA). ...