Value of a company in a takover

Just announced - Melbourne-based private company Spinifex Pharmaceuticals says it has been bought by Novartis for $US200 million up-front, with additional milestones and royalties totalling about $US700 million ($A915.9 million).

Spinifex’s lead programs are in neuropathic pain, a group of chronic painful conditions where the underlying cause is due to nerve dysfunction. Spinifex is also targeting inflammatory pain such as that caused by osteoarthritis. A significant opportunity exists for new candidates that can deliver improved efficacy, side effect profiles, time to onset and simplified dosing in chronic pain. EMA401, Spinifex’s lead clinical candidate, is being developed to address this unmet need and has successfully completed a Phase 2 clinical trial in postherpetic neuralgia (PHN), a neuropathic pain which follows herpes zoster (shingles) in some patients. In addition to PHN, EMA401 is being advanced as a potential treatment in other chronic pain indications and Spinifex has an active drug discovery program around its AT​

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receptor antagonist technology​