Actelion to acquire Ceptaris contingent upon Valchlor approval

Just weeks ahead of the PDUFA date for its lead candidate Valchlor (mechlorethamine), private spec pharma Ceptaris Therapeutics Inc. has agreed to be acquired by Actelion US Holdings Co., a division of European biotech Actelion Pharmaceuticals Ltd., in a transaction that hinges upon the FDA’s approval of that drug for stage I-IIa mycosis fungoides, the most common form of a rare type of non-Hodgkin’s lymphoma called cutaneous T-cell lymphoma. Ceptaris will receive $25mm up front and another $225mm should the deal close. In addition, shareholders are entitled to undisclosed payments tied to Valchlor’s net sales and/or commercialization milestones.