Otsuka Pharmaceutical to Acquire Mindset Pharma for ~$60M
- Otsuka will acquire Mindset for ~$60M in an all-cash transaction. Mindset shareholders will receive $0.75 in cash for each share held representing a 15.4% premium to the closing price of Mindset shares on Aug 30 while the transaction is expected to close in Oct 2023
- The acquisition will strengthen the pipeline in the area of psychiatric & neurological disorders with the addition of Mindset's novel compounds & synthesis processes. Otsuka will be responsible for developing several new 5-HT2A agonists in North America & the EU, upon completion of the acquisition
- Mindset & MSRD, an affiliate of Otsuka entered into a joint development agreement in Jan 2022 to support Mindset's research & develop a new class of agonists that activate the serotonin 5-HT2A receptor
Ref: Otsuka | Image: Otsuka
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