Company Name Corthera
Mailing Address 1660 S. Amphlett Blvd. San Mateo, CA 94402-2525
Company Description Corthera Inc., formerly BAS Medical, is a biopharmaceutical company committed to acquiring, developing and commercializing therapies for illnesses in the acute care setting. Corthera’s lead product candidate, relaxin, is currently being evaluated in a global, phase 2/3 clinical trial for acute decompensated heart failure. Corthera has worldwide rights to develop and commercialize relaxin.
M&A Terms Under the terms of the transaction, Novartis will acquire all of the outstanding shares of Corthera’s stock for USD $120 million. In addition, Corthera’s current shareholders will be eligible to receive additional payments of up to USD 500 million that are contingent upon clinical milestones, regulatory approval of relaxin and the achievement of commercialization targets. This transaction, which is subject to customary regulatory approvals, is expected to be completed in the first quarter of 2010.