Sunovion Pharmaceuticals Acquires Elevation Pharmaceuticals for $430,000,000

  • Feed Type
  • Date
    8/31/2012
  • Company Name
    Elevation Pharmaceuticals
  • Mailing Address
    11455 El Camino Real San Diego, CA 92130
  • Company Description
    Founded in 2008, Elevation Pharmaceuticals is developing a pipeline of improved aerosol drug products for COPD patients. Our founding team has a successful track record starting companies and building dedicated teams to develop new drug products that improve patients’ lives.
  • Website
    http://www.elevationpharma.com
  • Transaction Type
    M&A
  • Transaction Amount
    $430,000,000
  • Transaction Round
  • Proceeds Purposes
  • M&A Terms
    According to the terms of the agreement, Sunovion will make an upfront payment of US$100 million to the shareholders of Elevation on closing of the acquisition of its shares, and thereafter it will make development milestone payments for EP-101 up to US$90 million. Furthermore, after the regulatory approval, Sunovion will also make commercial milestone payments up to US$210 million. Subsequent milestone payments up to $30 million could occur contingent upon the successive development of additional new programs.

By posting a comment, you agree to our terms and conditions.