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Upsher-Smith Laboratories Inc.
Drug Names(s): BVT-74316
Description: BVT.74316 is a selective 5-HT6 receptor antagonist.
BVT.74316 has demonstrated a decrease in food intake and a reduction in body weight in animals in both short and long-term studies.
Deal Structure: BVT.74316 was originally developed by Biovitrum.
In October 2009, Proximagen Neuroscience announced that it signed a Sale and Purchase Agreement with Biovitrum to acquire Biovitrum's wholly-owned subsidiary Cambridge Biotechnology Ltd (CBT), together with certain drug development programmes directly from Biovitrum. In consideration for these acquisitions, Proximagen will pay Biovitrum a percentage of future revenues generated from the acquired drug development programmes. Detailed financial terms of the deal are not being disclosed.
In November 2009, Biovitrum and the shareholders of Swedish Orphan reached an agreement under which Biovitrum will acquire 100 per cent of the shares and warrants in Swedish Orphan. The new group will be called Swedish Orphan Biovitrum.
In June 2012, Upsher-Smith announced agreed to acquire Proximagen Group. The transaction is subject to approval by Proximagen shareholders and other terms and conditions set out in the joint offer announcement...See full deal structure in Biomedtracker
Partners: Swedish Orphan Biovitrum
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