The Medicines Company acquires Annovation Biopharma
US drugmaker The Medicines Company (Nasdaq: MDC0) says it has completed its acquisition of all of the outstanding equity of Annovation Biopharma, a privately-held US company focused on creating more effective, safer therapies for anesthesia and critical care.
Financial terms of the deal were not disclosed. No deal terms were disclosed. However, TMC’s last quarterly report suggests it is paying around $35.3 million immediately and as much as $26.3 million in future milestones, and “low single digit” royalties on sales.
Based on technology licensed from Massachusetts General Hospital, Annovation is developing ABP-700, a novel intravenous anesthetic which is in Phase I clinical studies has demonstrated potent and rapidly reversible anesthetic effects.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
More Features in Pharmaceutical
| Headless Content Management with Blaze