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Elan to spin off drug discovery business into Neotope; complete, now called Prothena
04 Mar 2013
Executive Summary
Elan Corp. PLC (neurodegenerative and autoimmune diseases) is planning to spin off its discovery science business into Neotope Biosciences PLC, which will be an independent publicly traded company in the US. Elan will invest $120-130mm in equity into the start-up for a 14-18% stake; it anticipates completing the transaction by the end of this year.
Deal Industry
- Pharmaceuticals
-
Biotechnology
- Drug Discovery Tools
-
Large Molecule
- Antibodies
Deal Status
- Final
Deal Type
-
Financing
- Private Placement
- Spin-Off
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Elan to spin off drug discovery business into Neotope; complete, now called Prothena
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