Actelion is poised to buy Ceptaris Therapeutics as its drug Valchlor has been approved by the FDA, a significant precondition for the previously announced acquisition (July 2013). As per the terms of the agreement, Actelion paid $25 million to Ceptaris upon signing. An additional $225 million will be paid on the closure of the transaction. Moreover, Ceptaris' shareholders are eligible for milestone payments.
Valchlor gained approval for the topical treatment of early-stage mycosis fungoides-type cutaneous T-cell lymphoma. It can be used in patients who have previously undergone skin-directed treatment. The New Drug Application was submitted to the FDA in Feb 2013. Valchlor enjoys orphan drug status in the U.S. and will provide Actelion an opportunity to build a portfolio beyond its pulmonary arterial hypertension (PAH) franchise.
Actelion expects the transaction to become cash-accretive before the end of 2014. The company has drugs like Tracleer, Ventavis and Veletri in its portfolio for the treatment of PAH along with Zavesca for the treatment of Gaucher disease. The upcoming acquisition is a step forward in Actelion’s three pronged strategy of building a specialty franchise along with growing the PAH franchise. See Yahoo! Finance.
Posted by Bruce Lehr Aug 26th 2013.