Isao Teshirogi, Shionogi president and CEO (Kiyoshi Ota/Bloomberg via Getty Images)

PhII Alzheimer's da­ta loom­ing, Sh­iono­gi spend­ing up to $500M on a buy­out in­volv­ing one of the tough­est bets in biotech

Sh­iono­gi moved a cou­ple of months ago to get in tight with a low-pro­file biotech called Tetra Ther­a­peu­tics in Grand Rapids, MI. And what­ev­er they learned about their 2 Phase II stud­ies in Alzheimer’s and Frag­ile X syn­drome per­suad­ed the phar­ma play­er to ante up to $500 mil­lion more on a buy­out.

Tues­day morn­ing, Sh­iono­gi an­nounced that it is buy­ing Tetra out­right as the biotech nav­i­gates the fi­nal stretch­es on 2 mid-stage tri­als.

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