Angelini Pharma, the international pharmaceutical company which is a part of the private Italian Angelini Group, has acquired CNS specialist Arvelle Therapeutics for a total aggregate valuation of up to $960 million.
Arvelle Therapeutics is a Swiss-based biopharmaceutical company focused on bringing innovative treatments to patients suffering from disorders of the central nervous system (CNS). Following the acquisition, Angelini Pharma will have the exclusive license to commercialize cenobamate in the European Union and other countries in the European Economic Area (Switzerland and the United Kingdom). Angelini plans to launch cenobamate after receiving approval from the European Medicines Agency (EMA), which is expected in 2021.
Since its founding in 2019, Arvelle’s management team has focused on bringing cenobamate to people with epilepsy in Europe, whilst also creating significant value for shareholders. They have worked in close collaboration with the European regulators to advance the marketing authorization application (MAA), and they have successfully prepared for launch by building an organization throughout Europe and ensuring launch readiness across key areas of the business.
Cenobamate is a Promising Innovative Medicine by the UK’s MHRA for the treatment of drug-resistant focal-onset seizures in adults. Cenobamate is a small molecule with a unique dual complementary mechanism of action. It acts positively modulating the γ-aminobutyric acid (GABAA) ion channel and inhibiting voltage-gated sodium currents.
Pierluigi Antonelli, CEO Angelini Pharma said: “At Angelini Pharma, we are thrilled to sign this promising agreement and are enthusiastic about the commitment and work that our colleagues at Arvelle have put into the business during the last years. We share the same patient-centric culture and agility attitude. This transaction will propel us into a leading European player, well positioned to address the needs of patients with different Central Nervous System (CNS) disorders through an innovative portfolio, distinctive medical capabilities and extensive commercial presence, also via the opening of direct affiliates in France, UK, Nordics and Switzerland by 2022.”
Mark Altmeyer, President & CEO of Arvelle Therapeutics said: “I am very proud of the team we have built at Arvelle and the progress we have made over the last two years in helping bring cenobamate to people suffering with epilepsy in Europe. We think there is an excellent strategic fit with Angelini Pharma and believe the acquisition of Arvelle, and the launch of cenobamate can help accelerate their goal of becoming a leading CNS industry player.”
Dr. Jeong Woo Cho, CEO of SK Biopharmaceuticals said: “We are delighted to start a new working relationship with Angelini Pharma that will enable all of us to move a step forward in launching cenobamate in Europe as we have promised to the epilepsy community. This marks the beginning not only of a new relationship with Angelini, but also the year of our European entry. SK Biopharmaceuticals will continue its efforts with our partners to provide a new treatment option to patients worldwide.”