Sunovion bags PhI­II Parkin­son’s drug in $624M Cy­nap­sus buy­out

Sunovion is pay­ing more than twice what Cy­nap­sus Ther­a­peu­tics shares closed at to­day to buy the Toron­to-based biotech $CY­NA and its late-stage Parkin­son’s drug. Sunovion is shelling out $624 mil­lion in cash for the com­pa­ny at $40.50 per share.

The deal in­cludes the Phase III drug APL-130277, which is de­signed to be a “fast-act­ing, easy-to-use, on-de­mand treat­ment op­tion” for man­ag­ing OFF episodes as­so­ci­at­ed with Parkin­son’s dis­ease.

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