Otsuka Pharma snags a late-stage ADHD drug in $250M Neurovance buyout
Seven months after Neurovance cleared its last mid-stage hurdle for its ADHD drug, the small Cambridge, MA-based biotech is being plucked by Otsuka Pharmaceutical in a deal worth up to $250 million.
Neurovance has so far revealed venture rounds totaling $13.3 million, with Novartis Venture Fund leading the way. Now Otsuka will pay $100 million upfront to grab the company and its therapy, with another $150 million in milestones on the table.
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