Alkermes PLC is building out its strategy to become a CNS drug developer with the acquisition of Rodin Therapeutics Inc. for $100m upfront. The company announced an agreement to buy privately-held Rodin on 18 November, gaining a platform for developing small molecule drugs for synaptopathies. In addition to the upfront, Alkermes could also pay future payments of $850m tied to certain clinical and regulatory milestones and certain sales thresholds.
Alkermes Invests In Novel CNS Targets With Rodin Acquisition
Rodin is developing HDAC CoREST complex inhibitors for neurological conditions, with a lead candidate having completed Phase I testing. Alkermes will pay $100m upfront.
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