Tetra to become a wholly-owned subsidiary of Shionogi
Japanese drugmaker Shionogi (TYO: 4507) said today that, at a meeting of the board of directors held on May 25, it was resolved to take up an option to acquire all the shares of US biotech firm Tetra Therapeutics.
Under the terms of the agreement, Shionogi will obtain global rights to Tetra’s entire portfolio of compounds for the treatment of brain disorders associated with cognitive and memory deficits. The total transaction has a value of up to $500 million.
Shionogi and Tetra entered into a collaboration agreement, granting Shionogi rights to BPN14770 in Japan, Taiwan, and Korea, and an investment agreement in December 2018 to pursue the research and clinical development of BPN14770, a drug candidate for the treatment of brain disorders associated with cognitive and memory deficits.
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