Deal gives Angelini epilepsy asset, which could gain European approval this year
Angelini Pharma, an international pharma company that is part of the Angelini Group, has acquired Swiss-based biopharma Arvelle Therapeutics, which focuses on advancing treatments for patients suffering from CNS disorders. The deal is valued at up to $960 million, in an all-cash transaction. Per the agreement, $610 million will be initially paid out. Later on, once Arvelle’s cenobamate—an FDA-approved anti-seizure drug for the treatment of partial-onset (focal-onset) seizures in adults, which is available under the brand name XCOPRI CV—reaches revenue targets, the remaining $350 million will be paid.
Angelini Pharma, headquartered in Rome, will own the exclusive license to commercialize cenobamate in not only the EU but other countries in the European Economic Area (EEA) as well. Angelini plans to launch cenobamate after it receives approval from the European Medicines Agency (EMA), which is expected to come later this year.
It should also be noted that SK Biopharmaceuticals, a pharma company that is listed on the Korea Stock Exchange, has agreed to sell its 12% stake in Arvelle to Angelini Pharma. SK Biopharmaceuticals will still be eligible to receive all payments that were referenced by the license agreement signed between Arvelle and SK in February 2019. Revenue share payments due to Arvelle shareholders will be assumed by Angelini Pharma.