Tech Company M&A Transactions
Cadent Therapeutics Acquisition
On 12/17/2020, Cadent Therapeutics was acquired by Novartis AG. Novartis AG said the transaction price was $770 million.
Transaction Overview
Company Name
Acquired By
Announced On
12/17/2020
Transaction Type
M&A
Amount
$770,000,000
M&A Terms
Novartis will acquire all of Cadent's outstanding stock in exchange for the upfront fee and up to $560 million in milestone payments. The duo expects the deal to close in the first quarter of 2021. Under the deal, Novartis will buy out the milestones and royalties for the depression asset, MIJ821, which it is testing in a phase 2 study. It also picks up CAD-9303, a treatment for schizophrenia, and CAD-1883, which is in development for movement disorders.
Company Information
Company Status
Acquired or Merged
Industry
Biopharmaceutical
Mailing Address
60 Hamilton St.
Cambridge, MA 02139
USA
Cambridge, MA 02139
USA
Phone
Undisclosed
Website
Email Address
Overview
Cadent Therapeutics is creating breakthrough therapies for the treatment of movement disorders and cognitive impairment. The company combines target specificity, patient selection, drug design and optimization, and novel quantitative endpoints to create first-in-class molecules to treat movement and cognitive disorders.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Jodie Morrison
Chief Financial Officer
John McBride
Chief Scientific Officer
Timothy Piser
President
Michael Curtis
VP - Product Management
Gregg Keaney
Browse more venture capital transactions:
Prev: 12/17/2020: Enveda Biosciences venture capital transaction
Next: 12/17/2020: Bestow venture capital transaction
Share this article
About Database of VC Transactions
We do our best to record tech company VC transactions. VC investment data records reported here are derived from news reports and company announcements. The data comes to us via our partnership with VentureDeal.com, an affiliated venture.
Additional Resources for Entrepreneurs