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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