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GlaxoSmithKline plc

Drug Names(s): AWD 12-281

Description: 842470 is a phosphodiesterase 4 inhibitor (PDE 4), which can be administered by powder inhalation, nasal spray or as topical cream. PDE4 inhibitors are thought to relax airway smooth muscle, to suppress the activation of inflammatory cells, and to modulate the activity of pulmonary nerves.

Deal Structure: Acorda and Biotie
In January 2015, Acorda Therapeutics and Biotie Therapies have entered into a combination agreement (Combination Agreement) whereby Acorda, either directly or through a wholly-owned subsidiary (jointly the Offeror), will make a public tender offer in Finland and in the United States to purchase all of the issued and outstanding shares, American Depositary Shares (ADSs), stock options, share units and warrants in Biotie that are not owned by Biotie or any of its subsidiaries (the Tender Offer).

The price offered for each share validly tendered into the Tender Offer will be EUR 0.2946 in cash, representing a premium of approximately 95 per cent compared to the closing price of the Biotie shares on Nasdaq Helsinki on January 18, 2016. The price offered for each ADS will be EUR 23.5680 in cash, payable in the equivalent amount of U.S. dollars determined as near to the payment date as reasonably practicable based on the U.S. dollar spot rate against...See full deal structure in Biomedtracker

Partners: Biotie Therapies Corp.

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