Acorda Therapeutics has announced that it will acquire inhaled drug developer Civitas Therapeutics, including rights to the ARCUS inhalation platform, for $525 million in cash. The deal includes worldwide rights to Civitas’s lead candidate, CVT-301 inhaled L-dopa for the treatment of OFF episodes in Parkinson’s disease patients.
Civitas CEO Mark Iwicki said, “We are excited about collaborating with our new colleagues at Acorda to continue development of CVT-301. Our shared conviction in the potential of CVT-301 and the ARCUS technology, combined with a mutual passion for improving the lives of people with neurological diseases, make this acquisition an ideal match of expertise, vision and culture. We are proud of what our team at Civitas achieved with the successful development of CVT-301 through Phase 2b.”
Acorda President Ron Cohen commented, “This acquisition marks a great day for Acorda and Civitas. Both companies share a passion for developing novel therapies that can restore function to people with neurological diseases. We also see substantial synergies between our capabilities, people and pipelines. The acquisition adds an exciting product candidate to Acorda’s pipeline that addresses a significant unmet need in Parkinson’s disease. It also leverages Acorda’s existing development and commercial capabilities and creates an opportunity for us to develop a global presence. In addition, Civitas’ ARCUS technology adds a proprietary platform with the potential for future development opportunities.”
In August 2014, Civitas announced that it had raised $55 million for Phase 3 development of CVT-301. According to the Acorda announcement, enrollment in the pivotal Phase 3 trial will take place early next year, with an NDA submission expected sometime in 2016. The company estimates that US sales of CVT-301 could be greater than $500 million.
Acorda’s pipeline also includes Plumiaz diazepam nasal spray for the treatment of cluster seizures in epilepsy patients. The company announced in May 2014 that it had received a Complete Response Letter for that product form the FDA.
Read the Acorda Therapeutics press release.
