Baxter, Takeda, Shire and Lundbeck will all exit central nervous system disorder drug developer Naurex, which had raised $160m in funding.

Naurex, a US-based developer of treatments for central nervous system disorders, agreed on Sunday to be acquired by pharmaceutical company Allergan in a $560m deal in which four pharmaceutical firms will exit.

Allergan will pay $460m in cash up front and the remaining $100m by January 2016, with additional payments tied to sales and research-based milestones.

Founded in 2006, Naurex has developed a platform to create drugs that strengthen the body’s network for neural cell communication, enabling it to treat…