M&A Deal Summary

Acorda Therapeutics Acquires Civitas Therapeutics

On September 24, 2014, Acorda Therapeutics acquired life science company Civitas Therapeutics from Bay City Capital for 525M USD

Acquisition Highlights
  • This is Acorda Therapeutics’ 3rd transaction in the Life Science sector.
  • This is Acorda Therapeutics’ largest (disclosed) transaction.
  • This is Acorda Therapeutics’ 3rd transaction in the United States.
  • This is Acorda Therapeutics’ 1st transaction in Massachusetts.

M&A Deal Summary

Date 2014-09-24
Target Civitas Therapeutics
Sector Life Science
Buyer(s) Acorda Therapeutics
Sellers(s) Bay City Capital
Deal Type Add-on Acquisition
Deal Value 525M USD
Advisor(s) J.P. Morgan Securities
BofA Securities (Financial)
Ropes & Gray (Legal)

Target

Civitas Therapeutics

Chelsea, Massachusetts, United States
Civitas Therapeutics, Inc. is a biopharmaceutical company focused on developing a robust pipeline of inhaled therapeutics with the clinically proven ARCUS® dry powder pulmonary delivery platform.

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Buyer(S) 1

Buyer

Acorda Therapeutics

Pearl River, New York, United States

Category Company
Founded 1995
Sector Life Science
Employees102
Revenue 118M USD (2023)
DESCRIPTION

Acorda Therapeutics is a biotechnology company developing therapies for multiple sclerosis and related neurological conditions such as spinal cord injury (SCI). Acorda Therapeutics was founded in 1995 and is headquartered in Pearl River, New York.


DEAL STATS #
Overall 3 of 4
Sector (Life Science) 3 of 4
Type (Add-on Acquisition) 3 of 4
State (Massachusetts) 1 of 1
Country (United States) 3 of 3
Year (2014) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-09 NeurogesX

San Mateo, California, United States

NeurogesX, Inc. is a specialty pharmaceutical company focused on developing and commercializing a portfolio of novel non-opioid, pain management therapies to address unmet medical needs and improve patients' quality of life. NeurogesX was founded in 1998 and is based in San Mateo, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-19 Biotie Therapies

Turku, Finland

Biotie Therapies Corp. is a biopharmaceutical company primarily focused on developing therapeutics for central nervous system disorders. Its pipeline includes product candidates designed to address unmet medical needs in Parkinson’s disease and related dementia, other neurodegenerative indications and primary sclerosing cholangitis, an orphan fibrotic liver disease.

Buy $363M

Seller(S) 1

SELLER

Bay City Capital

San Rafael, California, United States

Investor Investor Investor Investor Investor


Category Venture Capital Firm
Founded 1997
PE ASSETS 1.3B USD
Size Large
Type Sector Focused
DESCRIPTION

Bay City Capital LLC was established in 1997 as an equal partnership between The Craves Group and certain Pritzker family business interests for the purpose of managing investment funds in the life sciences industry. Bay City looks for opportunities at all stages of development in biopharmaceuticals, drug discovery, medical devices and diagnostics. Bay City Capital is based in San Francisco, California.


DEAL STATS #
Overall 51 of 62
Sector (Life Science) 35 of 45
Type (Add-on Acquisition) 27 of 31
State (Massachusetts) 5 of 8
Country (United States) 49 of 59
Year (2014) 3 of 6
Size (of disclosed) 4 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-01 Vtesse

Gaithersburg, Maryland, United States

Vtesse, Inc. is a disease company focused on developing drugs for patients suffering from diseases that are under-served. Vtesse is based in Gaithersburg, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-03 Dermira

Menlo Park, California, United States

Dermira, Inc. is a biopharmaceutical company dedicated to bringing biotech ingenuity to medical dermatology by delivering differentiated, new therapies to the millions of patients living with chronic skin conditions. Dermira was founded in 2010 and is based in Menlo Park, California.

Sell -