Angelini Acquires Arvelle Therapeutics
Italy’s Angelini Pharma has entered into an agreement to acquire Swiss biopharma Arvelle Therapeutics in an all-cash transaction worth up to $960 million. The first $610 million will be paid following regulatory clearance of the deal, with a further $350 million paid if Arvelle’s epilepsy treatment cenobamate achieves certain revenue targets.
Arvelle is focused on developing treatments for patients suffering from central nervous system (CNS) disorders. In February 2019, it entered into an exclusive licensing agreement with SK Biopharmaceuticals to develop and commercialize anti-seizure medication cenobamate in Europe. The treatment has already been approved for partial-onset seizures in adults in the US, where it is commercially available under the brandname Xcopri.
The Korean company owns 12% of Arvelle and has agreed to sell its stake to Angelini.
Once the transaction has closed, Angelini will have the exclusive license to commercialize cenobamate in the EU as well as in Switzerland and the UK. The European Medicines Agency is expected to approve the therapy this year.
“This transaction will propel us into a leading European player, well positioned to address the needs of patients with different Central Nervous System (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,” said Pierluigi Antonelli, Angelini Pharma’s CEO.
Angelini Pharma is focused on therapies for mental health (including pain), rare diseases and consumer healthcare. In March 2020, the Rome-headquartered firm acquired GlaxoSmithKline’s ThermaCare global business rights, excluding North America. The deal included a dedicated manufacturing site for ThermaCare products in Albany, Georgia, USA.
ThermaCare uses patented technology to produce heat to help rebuild damaged tissue and accelerate healing. Heat therapy is widely known to help ease muscle pain, reduce soreness and loosen tight muscles.
Author: Elaine Burridge, Freelance Journalist
