Monday, June 10, 2013

Pearl Therapeutics Acquired For $1.15 Billion

Venture backed pharmaceuticals firm Pearl Therapeutics has been acquired by AstraZeneca in a deal worth up to $1.15 billion, the firms said today. Pearl Therappeutics is a developer of inhaled bronchodilator products for the treatment of patients with COPD. Pearl Therapeutics was venture backed by 5AM Ventures, Clarus Ventures, Nektar Therapeutics, New Leaf Venture Partners, and Vatera Holdings. AstraZenea said it will pay $560M for Pearl with up to $450M in earnout.