AstraZeneca Acquires Pearl Therapeutics for $1,150,000,000

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=834e7e44-7a6c-4083-9218-a24749e0827a&Preview=1
Date
6/10/2013
Company Name
Pearl Therapeutics
Mailing Address
200 Saginaw Drive Redwood City, CA 94063
Company Description
Pearl Therapeutics is focused on developing a pipeline of novel andsuperior products for chronic respiratory disorders, providing patientswith advanced therapeutic options in familiar and well accepted dosageforms. The company has licensed advanced particle technology from NektarTherapeutics (Nasdaq: NKTR) for developing a series of products in selectedtherapeutic fields.
Website
http://www.pearltherapeutics.com
Transaction Type
M&A
Transaction Amount
$1,150,000,000
Transaction Round
Proceeds Purposes
M&A Terms
Astra agreed to pay $560 million upfront for Pearl, plus up to $450 million in milestone payments if products in development progress successfully, and as much as $140 million in sales payments if the drugs meet certain sales thresholds.