(Reuters) – U.S. biotechnology company Acorda Therapeutics Inc. (ACOR.O) announced on Tuesday an agreed $363 million cash bid for all of the shares in Finland’s Biotie Therapies (BTH1V.HE).
Acorda said the acquisition would expand its pipeline in Parkinson’s disease therapies.
The company will offer 0.294 euros for each Biotie share, a premium of about 95 percent compared with the closing price on Monday.
Biotie shares had jumped 79 percent to 0.27 euros by 0824 GMT (3.24 a.m. ET).
(Reporting by Tuomas Forsell; Editing by Jussi Rosendahl and Mark Potter)
The companies will explore opportunities to apply Flagship’s innovative bioplatforms – an ecosystem that currently comprises 41 companies – to scientific challenges in disease areas within cardiometabolic and rare diseases and initiate research programmes based on these.
BD is expanding its long-running partnership with the blood collection company Babson Diagnostics. The two companies have been working together since 2019 on a device that can gather small volumes of blood from the capillaries in the fingertip without requiring any specialized training, and beginning with a focus on supporting primary care in retail settings.
Wednesday, Australian biotech CSL said (PDF) the regulatory review of its $11.7 billion acquisition of Switzerland’s Vifor Pharma will take “a few more months,” suggesting it won’t be able to close the transaction by June 2022 as previously expected.
