Upsher-Smith in up to $232M PRXI deal
Minnesota, USA-based Upsher-Smith has entered into a worldwide licensing deal with Proximagen Neuroscience under which it will acquire the UK firm's PRXI program, now at the preclinical stage, for the symptomatic treatment of Parkinson's disease.
Under the terms of the accord, U-S will make upfront and milestone payments to Proximagen totaling up to $232.0 million. The company will also make an investment of $6.0 million, at 200 pence per share, to acquire a 7.1% stake in the UK firm - a 100% premium.
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