SK Biopharmaceuticals will divest a 12% stake in Arvelle, which is looking to commercialise an epilepsy drug treatment, through the acquisition.
Angelini Pharma, a subsidiary of conglomerate Angelini, agreed yesterday to buy Arvelle Therapeutics, a central nervous system (CNS) disorder drug developer spun off by pharmaceutical company Axovant, for up to $960m.
The deal will involve a $610m upfront payment, with up to $350m in additional capital to be paid should Arvelle’s epilepsy drug, cenobamate, achieve certain revenue targets.
Arvelle was formed in 2019 to commercialise cenobamate to treat drug-resistant focal-onset seizures. The company expects to secure approval from the European…
