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Angelini will obtain an exclusive license to commercialize Arvelle’s investigational anti-seizure medication, cenobamate, in the European Union and other countries in the European Economic Area.
Angelini Pharma, part of the Italian Angelini Group, announced on Jan. 4, 2021 that it will acquire Arvelle Therapeutics, a biopharmaceutical company based in Switzerland, for a total of $960 million.
Under the terms of the agreement, Angelini will obtain an exclusive license to commercialize Arvelle’s investigational anti-seizure medication, cenobamate, in the European Union and other countries in the European Economic Area, Angelini said in a company press release. Following regulatory approval from the European Medicines Agency, Angelini will provide $610 million and, subject to cenobamate reaching certain revenue targets, an additional $350 million will be provided.
“At Angelini Pharma, we are thrilled to sign this promising agreement and are enthusiastic about the commitment and work that our colleagues at Arvelle have put into the business during the last years. We share the same patient-centric culture and agility attitude,” said Pierluigi Antonelli, CEO, Angelini Pharma, in the press release. “This transaction will propel us into a leading European player, well positioned to address the needs of patients with different [c]entral [n]ervous [s]ystem (CNS) disorders through an innovative portfolio, distinctive medical capabilities, and extensive commercial presence, also via the opening of direct affiliates in France, UK, Nordics, and Switzerland by 2022.”
“I am very proud of the team we have built at Arvelle and the progress we have made over the last two years in helping bring cenobamate to people suffering with epilepsy in Europe,” added Mark Altmeyer, president and CEO of Arvelle Therapeutics, in the press release. “We think there is an excellent strategic fit with Angelini Pharma and believe the acquisition of Arvelle, and the launch of cenobamate, can help accelerate their goal of becoming a leading CNS industry player.”