Otsuka Pharmaceutical to Acquire Mindset Pharma for ~$60M
Shots:
- 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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Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
