In quick start to new year's M&A, Arvelle Therapeutics hands reins to Angelini as it nears EU approval for cenobamate
With a team of Axovant veterans leading the way, CNS startup Arvelle Therapeutics is nearing approval for licensed epilepsy med cenobamate in the EU after snagging an FDA approval in late 2019. Looking to take its first med to market, Arvelle has agreed to hand the reins to Italy’s Angelini Pharma in the first big biopharma buyout of 2021.
Angelini will pay $610 million post-approval with $350 million in sales milestones to acquire Switzerland’s Arvelle, a team helmed by three veterans from the Vivek Ramaswamy outfit that expects an EU nod for cenobamate this year, the companies said Monday.
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