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Spain's Ferrer To Rescue Floundering US Biotech Alexza

 
• By John Davis

US Inhaled CNS drug biotech Alexza looks set to be acquired by Spain’s Ferrer, the licensee of its only marketed product Adasuve outside of the US, in an all-cash offer that includes contingent value rights.

Barcelona cathedral

The Barcelona-based, privately held mid-sized European pharmaceutical company, Grupo Ferrer Internacional SA, has sweetened its latest move to acquire cash-depleted Alexza Pharmaceuticals Inc., announced May 10, by granting contingent value rights (CVRs) as well as $0.90 in cash for all of Alexza’s shares, as the US biotech nears the end of its cash resources.

But it’s still an untidy turn of events for Mountain View, California-based Alexza that was founded by biotech pioneer and...

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