$400m Heptares acquisition to drive Sosei's R&D

Sosei is to pay up to $400m to acquire the UK structure-based drug design specialist Heptares Therapeutics in a move that the Japanese firm hopes will bring fresh fuel to its R&D engine, complementing its existing nanotech and peptide technologies. It will pay $180m in cash up front and up to $220m contingent on pipeline milestones and future deals bringing in revenues.