Civitas acquired by Acorda Therapeutics for $525M

Kathy Mahdoubi | | Health Imaging | Molecular Imaging

Acorda Therapeutics has made an agreement with Civitas Therapeutics to acquire the latter for $525 million. The purchase comes with global rights over a portfolio of drugs in development, including an inhalable drug called CVT-301, currently being validated for the treatment of Parkinson’s disease symptoms, Acorda announced Sept. 24.

The agreement brings with it Arcus pulmonary delivery technology as well as a manufacturing facility in Chelsea, Mass.

"The acquisition adds an exciting product candidate to Acorda's pipeline that addresses a significant unmet need in Parkinson's disease," said Acorda CEO Ron Cohen in an official statement. "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."

Evidence of the benefits of CVT-301 have cropped up from a recent phase II clinical trial. If approved, Acorda expects U.S. sales to spike above $500 million.

Kathy Mahdoubi

Related Content

Researchers receive grant worth millions to develop portable PET scanner
Why is the US still dependent on foreign medical isotope production?
Downed high-flux reactor could restart sooner than anticipated
Some nuc med departments are already feeling the strain of the isotope shortage
NorthStar opens facility to assist with development and distribution of vital radioisotopes
Lizard saliva could be key to spotting elusive pancreatic tumors

Around the web

Cardiovascular Business
Positron partners with Upbeat Cardiology Solutions to improve cardiac PET/CT access

Positron, a New York-based nuclear imaging company, will now provide Upbeat Cardiology Solutions with advanced PET/CT systems and services. 

Cardiovascular Business
Global shortage of nuclear imaging isotopes may be over

The nuclear imaging isotope shortage of molybdenum-99 may be over now that the sidelined reactor is restarting. ASNC's president says PET and new SPECT technologies helped cardiac imaging labs better weather the storm.

Cardiovascular Business
‘A huge win’: CMS significantly increases Medicare payments for cardiac CT

CMS has more than doubled the CCTA payment rate from $175 to $357.13. The move, expected to have a significant impact on the utilization of cardiac CT, received immediate praise from imaging specialists.