Angelini Pharma, part of the private Italian Angelini Group, has finalised its acquisition of Arvelle Therapeutics, a Swiss-based biopharma focused on bringing innovative treatments to patients suffering from CNS disorders for up to $960 million.
$370 million has been paid with the completion of the deal. An additional $240 million will be paid following regulatory approval of the deal.
Since its founding in 2019, Arvelle’s management team has focused on bringing cenobamate to people with epilepsy in Europe, whilst also creating significant value for shareholders.
They have worked in close collaboration with the European regulators to advance the marketing authorization application (MAA), and they have successfully prepared for launch by building an organization throughout Europe and ensuring launch readiness across key areas of the business.
Arvelle had held commercial rights to cenobamate under a licensing agreement with SK Biopharmaceuticals
“The acquisition of Arvelle represents a milestone in our growth path,” says Pierluigi Antonelli, CEO Angelini Pharma
“The recent Positive CHMP opinion of cenobamate – for the adjunctive treatment of focal onset seizures with or without secondary generalization in adult patients with epilepsy – represents another milestone for us and for patients.
“There are an estimated six million people in Europe with epilepsy and approximately 40% of adult people with epilepsy1 have inadequate control of seizures after treatment with two anti-seizure medications.
“Cenobamate showed significant efficacy, with more patients achieving a 50% or greater reduction in seizure frequency and unprecedented rates of seizure freedom of up to 21% compared to placebo.
“We are impressed and excited about what Arvelle Therapeutics’ people have achieved and fully committed to bring Cenobamate to patients thanks to our distinctive medical capabilities and commercial presence.”
Through this acquisition, Angelini Pharma becomes a major player in the market for the treatment of central nervous system (CNS) and mental health disorders.
In addition, direct affiliates of Angelini Pharma will open direct affiliate in France, UK, Nordic countries and Switzerland by 2022.
Following the acquisition, Angelini Pharma will have the exclusive license to commercialize cenobamate in the European Union and other countries in the European Economic Area (Switzerland and the United Kingdom).