Bloomberg News

Biotie Therapies Ends Pact to Acquire Newron Pharmaceuticals

October 28, 2011

Oct. 28 (Bloomberg) -- Biotie Therapies Oyj will use its right to terminate the agreement to acquire Newron Pharmaceuticals S.p.A. and will be entitled to a break-up fee of 1.5 million euros ($2.1 million) from Newron.

Biotie decided to terminate the pact after it estimated a material adverse effect from Newron getting back full global rights to safinamide from Merck Serono as of April 2012, the Finnish company said in a statement today.

Link to Statement:{NSN LTRFAD3PWT1H <GO>}

To contact the editor responsible for this story: Kati Pohjanpalo at kpohjanpalo@bloomberg.net


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