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news.Biotie Therapies is set to take over Newron Pharmaceuticals for EUR45m, under an agreement signed between the two parties.
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Following the acquisition, Newron will merge into Biotie and all of its assets, rights, debts and other liabilities will transfer to Biotie.
The new biopharmaceutical company which will be focusing on CNS business.
Biotie president and CEO Timo Veromaa said their combined portfolio, addressing major market opportunities, promises to deliver differentiated novel medicines to patients in areas of unmet medical need.
"We look forward to optimising the combined product pipeline to create value for our shareholders, partners and other stakeholders," Veromaa said.