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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