Novartis AG Acquires Corthera for $120,000,000

  • Feed Type
  • Date
    12/23/2009
  • Company Name
    Corthera
  • Mailing Address
    1660 S. Amphlett Blvd. San Mateo, CA 94402-2525
  • Company Description
    Corthera Inc., formerly BAS Medical, is a biopharmaceutical company committed to acquiring, developing and commercializing therapies for illnesses in the acute care setting. Corthera’s lead product candidate, relaxin, is currently being evaluated in a global, phase 2/3 clinical trial for acute decompensated heart failure. Corthera has worldwide rights to develop and commercialize relaxin.
  • Website
    http://www.corthera.com
  • Transaction Type
    M&A
  • Transaction Amount
    $120,000,000
  • Transaction Round
  • Proceeds Purposes
  • M&A Terms
    Under the terms of the transaction, Novartis will acquire all of the outstanding shares of Corthera’s stock for USD $120 million. In addition, Corthera’s current shareholders will be eligible to receive additional payments of up to USD 500 million that are contingent upon clinical milestones, regulatory approval of relaxin and the achievement of commercialization targets. This transaction, which is subject to customary regulatory approvals, is expected to be completed in the first quarter of 2010.