As well as its 24% equity stake, Elan will have a seat on Proteostasis' board of directors and scientific advisory board, and the first right to exclusively license new drug compounds from the collaboration.
Ireland-based Elan is investing up to $50m in Proteostasis Therapeutics, a US-based company treating brain problems, in return for a 24% stake.
Elan will invest $20m initially for its shares with a further $30m available as collaboration funding over the next five years.
As well as its equity stake, Elan will have a seat on Proteostasis’ board of directors and scientific advisory board, and the first right to exclusively license new drug compounds from the collaboration.
Peter Reinhart,…
