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Sunovion buys Elevation Pharmaceuticals for up to $430mm

Executive Summary

Dainippon Sumitomo Pharma Co. Ltd.’s Sunovion Pharmaceuticals Inc. (mainly CNS and respiratory treatments) has agreed to acquire closely held respiratory therapeutics developer Elevation Pharmaceuticals Inc. for $100mm, plus up to $330mm in earn-outs: $90mm based on the successful development of EP101, another $210mm for reaching commercialization goals pertaining to the drug candidate, and $30mm for the development of additional programs. EP101 is in Phase II for moderate-to-severe chronic obstructive pulmonary disease and should begin Phase III during 2H 2013. The company claims it is the only long-acting, nebulized bronchodilator in development.
Deal Industry
  • Biotechnology
  • Pharmaceuticals
  • Pharmaceuticals
    • Drug Delivery
      • Pulmonary
Deal Status
  • Final
Deal Type
  • Acquisition
    • Acquisition of Private Biotech
    • Full Acquisition
    • Includes Earnout
    • Payment Includes Cash

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