Biotie Therapies to Acquire Newron for €45M
Finnish biotech Biotie Therapies will purchase Italian biopharmaceutical firm Newron Pharmaceuticals for €45m.
Biotie Therapies, a Finnish biotechnology and pharmaceutics company, is to buy Italian biopharmaceutical firm Newron Pharmaceuticals for €45m. The transaction is subject to the approval of the EGM of Newron, which will take place at the end of next month.
According to the deal, Bresso-based Newron will be merged into Turku-based Biotie and all of its assets, rights, debts and other liabilities transferred to Biotie.
The transaction is not expected to affect Biotie’s operations or organisations in Finland and in the US. The structure of the Newron organisation in Italy and Switzerland will be reviewed and restructuring is planned.
The deal will create a pipeline with two drugs, Biotie’s leading product nalmef
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