Its sale to Allergan was called off at the last minute. One year later, a biotech co-founded by Henri Termeer finds a new buyer
Lysosomal Therapeutics went into JP Morgan 2017 with a sale all but sealed. With $100 million upfront and a $48 million cash infusion to execute on the R&D plan, Allergan lined up an exclusive option to buy the Cambridge, MA-based biotech once the Phase I safety and proof-of-concept data for its lead drug are in.
The team delivered the results by the end of 2018, CEO Kees Been recalled, and after several months of negotiations they had shaken hands over a June buyout.
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