Acorda Therapeutics, a biotechnology company specializing in restorative neurological function therapies, announced on Sept. 24, 2014 that it has acquired Civitas Therapeutics, a privately held biopharmaceutical company, for $525 million. The acquisition combines two companies focused on neurological therapies and will afford Acorda the opportunity to develop a more global presence. In the acquisition, Acorda obtains all the rights to CVT-301, a Phase III treatment candidate for off episodes of Parkinson’s disease (PD). An off episode is a period of time during which PD symptoms re-emerge despite taking PD medications.

Acorda also gains the right to Civitas’ proprietary ARCUS pulmonary delivery technology and its manufacturing facility located in Chelsea, MA.

CVT-301 provides rapid delivery of a dry powder L-dopa formulation via a proprietary, pocket-sized, reusable inhaler fit with blister-pack capsules. The Phase III treatment is expected to begin enrolling in 2015, with potential filing of regulatory approval in the United States by the end of 2016.

Mergers and Acquisitions

Acorda Therapeutics acquired Civitas Therapeutics for $525 million, giving Acorda all the rights to CVT-301, a Phase III candidate for off episodes of Parkinson?s disease.