NeuroSearch buys Carlsson
Ballerup – Carlsson Research AB, a Swedish biopharmaceutical company originating from the laboratory of the Nobel Prize winner Arvid Carlsson of Gothenburg University, is to be acquired by the publicly listed company NeuroSearch A/S from Denmark. The deal, valued at SEK875 million (a74 million), is conditional, upon a share offering made by NeuroSearch which is aimed at raising between DKK350 million (a47 million) and DKK400 million (a53 million) before the end of 2006.
Within the acquisition, SEK250 million (a26 million) will be paid upfront and SEK625 million (a67 million) upon the achievement of certain agreed milestones. “The combination of NeuroSearch and Carlsson will ensure that our innovations are commercialized in the best possible way”, stated Jonas Frick, Board Member of Carlsson Research, in a press release.
The acquisition expands NeuroSearch‘s development pipeline with three drug candidates for the treatment of diseases of the central nervous system (CNS). The most advanced drug candidate ACR16, a dopamin D2 receptor antagonist, is in development for Huntington’s disease and has completed a Phase II trial. It is planned to enter phase III next year. NeuroSearch hopes to launch the product in 2009.