Civitas Therapeutics, which is developing an inhaled formulation of an existing drug for Parkinson's Disease, announced its plans to be acquired by Acorda Therapeutics, a commercial-stage biopharmaceutical company focused on novel therapies for CNS disorders, for $525 million in cash this morning. The announcement comes on the day of its anticipated IPO pricing.
The Chelsea, MA-based company was founded in 2009 and initially filed confidentially on May 12, 2014. J.P. Morgan and BofA Merrill Lynch were set to be the joint bookrunners on the deal.
