Elevate your local knowledge

Sign up for the iNFOnews newsletter today!

Select Region

Selecting your primary region ensures you get the stories that matter to you first.

Toronto-based Cynapsus Therapeutics to be bought by Sunovion for $820 million

Toronto-based Cynapsus Therapeutics Inc. is being purchased by Sunovion Pharmaceuticals Inc. for approximately CAN$820 million cash.

By acquiring Cynapsus, U.S.-based Sunovion said it would expand and diversify its portfolio of products in key therapeutic areas, including neurology.

Cynapsus (TSX: CTH) is a specialty central nervous system pharmaceutical company.

Through the deal, Sunovion said it would acquire Cynapsus’s novel Parkinson’s Disease drug APL-130277, which is currently being studied in ongoing clinical trials.

Pending the completion of successful clinical trials, Sunovion said APL-130277 would be submitted to the U.S. Food and Drug Administration for approval.

Both companies jointly announced the acquisition is expected to close in the fourth quarter of 2016.

News from © The Canadian Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

Join the Conversation!

Want to share your thoughts, add context, or connect with others in your community?

Create a free account

The Canadian Press

The Canadian Press is Canada's trusted news source and leader in providing real-time, bilingual multimedia stories across print, broadcast and digital platforms.

Related Articles