Jazz Pharma buys Cavion for up to $312.5 million

13 August 2019

Ireland-headquartered Jazz Pharmaceuticals (Nasdaq: JAZZ) late Monday announced the acquisition of clinical-stage biotech firm Cavion, through a merger with a Jazz subsidiary.

Under the terms of the agreement, the former Cavion shareholders receive an upfront payment of $52.5 million and have the potential for additional payments of up to $260.0 million on the achievement of certain clinical, regulatory and commercial milestones, for a total potential consideration of $312.5 million.

Cavion, which was formed in 2014 through the merger of privately-held US drugmakers Tau Therapeutics and Xdynia, creates therapies aimed at modulating the T-type calcium channel for the treatment of chronic and rare neurological diseases.

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