Angelini Pharma has agreed a takeover for the Zug-based start-up Arvelle Therapeutics. The company, which forms part of the Angelini Group based in Italy, will pay a total of 960 million US dollars to complete the deal, as detailed in a press release. Following regulatory approval, a total of 610 million US dollars will initially be paid, with additional payments totaling 350 million US dollars contingent on the attainment of certain, predefined sales targets.
Arvelle Therapeutics is working on the development of cenobamate, an adjunctive therapy for focal-onset seizures in adult patients suffering from epilepsy. The start-up signed a licensing agreement for the rights to the development and commercialization of cenobamate in Europe with SK Biopharmaceuticals Co. Ltd. The European Medicines Agency has received the marketing authorization application (MAA) for cenobamate submitted by Arvelle Therapeutics in 2020, with approval expected to be granted in 2021. The drug has already been authorized for use in the USA.
Following the takeover of Arvelle Therapeutics, Angelini Pharma will hold an exclusive license for the commercialization of cenobamate in the European Union and other countries belonging to the European Economic Area (EEA). According to information from the company itself, it will become a European leader for treatments in the field of central nervous system (CNS) and mental health disorders. In this regard, Angelini Pharma is also planning to expand its presence in Europe. Pierluigi Antonelli, CEO of Angelini Pharma, explains in the press release that the company intends to open affiliates in Switzerland, the UK, France and Scandinavia by 2022.