The buyer, in the largest ever acquisition of an Israeli pharmaceuticals company, is Japan’s Mitsubishi Tanabe Pharma Corporation.
As reported in Globes:
The CEO of NeuroDerm is Dr. Oded Lieberman. The chairman, and one of the leading investors in the company, is Robert Taub, who founded Omrix and sold it for $458 million to Johnson & Johnson.
NeuroDerm was floated on Nasdaq in November 2014 at a valuation of $164 million after money. Since then it has made further offerings, at rising valuations.
“We believe that this transaction will yield important benefits for NeuroDerm’s shareholders and the Parkinson’s disease patients that urgently need new therapies,” Lieberman said. “MTPC has demonstrated development and commercialization expertise in the field of neurology and we are confident that the combination of their resources and the robust data supporting ND0612, our Phase III Parkinson’s disease product candidate, will help make this important new therapy available as broadly and rapidly as possible. The transaction also provides our shareholders with a significant return on their investment in NeuroDerm, reflecting the value that we have created with our pipeline and technologies.”
Parkinson’s is the second most common neurological disease in Australia after dementia. The disease affects an estimated 80,000 individuals in Australia.