Acorda Therapeutics to buy Biotie Therapies

Biotie is primarily focused on developing therapeutics for central nervous system disorders. The company develops products for neurodegenerative and psychiatric disorders such as Parkinson’s disease, Alzheimer’s disease and other cognitive disorders.

As per the deal, Acorda will receive global rights to tozadenant, which is an oral adenosine receptor antagonist presently in phase 3 development stage for Parkinson’s disease.

The company will also secure global rights to SYN120, an oral, 5-HT6/5-HT2A dual receptor antagonist for Parkinson’s-related dementia, which is currently in phase 2 development.

The transaction also includes Biotie’s BTT1023, a treatment for primary sclerosing cholangitis chronic liver disease, and Selincro, a therapy for alcohol consumption reduction.

The acquisition is anticipated to be completed in the third quarter of this year. Acorda intends to maintain Biotie’s operations in San Francisco, and also its own presence in New York, Boston, and San Francisco.

Acorda Therapeutics president and CEO Ron Cohen said: "Our acquisition of Biotie positions Acorda as a leader in Parkinson’s disease therapeutic development, with three clinical-stage compounds that have the potential to improve the lives of people with Parkinson’s."

Acorda’s pipeline of novel neurological therapies address several disorders such as multiple sclerosis, Parkinson’s disease, post-stroke walking deficits, epilepsy and migraine.

The company also markets three therapies, approved by the US Food and Drug Administration, including Ampyra (dalfampridine) extended release tablets, 10 mg.

Image: The acquisition of Biotie will position Acorda as a leader in Parkinson’s disease therapeutic development. Photo: courtesy of stockimages/FreeDigitalPhotos.net.