Lundbeck Invests £10M In CNS-Focused Proximagen
This article was originally published in The Pink Sheet Daily
Lundbeck's support for Proximagen comes as biotechs struggle for survival in the high-risk CNS space.
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With the end of its cash runway on the horizon, Finland’s Biotie Therapies has received an equity investment of €10 million from Lundbeck and €20 million from institutional investors, after renegotiating the ex-Europe part of its worldwide nalmefene licensing pact.
Proposed acquisition mimics other recent M&A deals, like Sanofi/Genzyme, with inclusion of contingent-value rights pegged to success of two clinical candidates.
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