ViroPharma buys option to acquire Meritage Pharma

ViroPharma (Nasdaq: VPHM) has entered into an exclusive option to acquire fellow USA based Meritage Pharma, a private company based in San Diego, focused on developing oral budesonide suspension (OBS) as a treatment for eosinophilic esophagitis (EoE), a chronic inflammatory disorder of the esophagus.

ViroPharma has paid an initial $7.5 million, and has agreed to provide Meritage up to an additional $12.5 million for the development and exclusive right to purchase the company at predefined terms upon the completion of a series of clinical and regulatory deliverables. Meritage will utilize the funding to conduct additional Phase II clinical assessment of OBS.

$69.9 purchase price agreed