A year after Tourette’s readout, Teva pays $700M up front for VC-backed Emalex

Emalex’s eight-year journey through late-stage development of a therapy for pediatric Tourette’s syndrome has culminated in a takeout by Teva, rewarding an investor group that included early investor Paragon and series D leader Bain Capital.

Teva Pharmaceutical Industries Ltd. (Tel Aviv:TEVA; NYSE:TEVA) will pay $700 million up front to acquire Emalex Biosciences Inc. The biotech’s shareholders are eligible for $200 million in commercial milestones, plus royalties, that could add to the deal’s value...