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Vernalis PLC acquires Cita NeuroPharmaceuticals
27 Apr 2021
Executive Summary
In order to further boost its neurology pipeline, Vernalis PLC will acquire Canadian company Cita NeuroPharmaceuticals (small-molecule drug candidates for neurological diseases) for £17.2mm ($29.5mm) in Vernalis stock, the assumption of Cita debt, plus potential earnouts of up to $35mm based on developmental progress. Vernalis plans to fund the deal with a concurrent public financing.
Deal Industry
- Biotechnology
- Pharmaceuticals
Deal Status
- Final
Deal Type
-
Acquisition
- Acquisition of Private Biotech
- Full Acquisition
- Includes Earnout
- Intra-Biotech Deal
- Payment Includes Cash for Equity
- Payment Includes Stock
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Questions?
Please contact Sales at: (212) 520-2765 or email [email protected]
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Vernalis PLC acquires Cita NeuroPharmaceuticals
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