Alkermes completed its acquisition of Rodin Therapeutics for up to $950m.

Alkermes, a fully integrated, global biopharmaceutical company, completed its acquisition of Rodin Therapeutics, a privately held biopharmaceutical company, for up to $950m. At the closing of the transaction, Alkermes made an upfront cash payment of $100m. Rodin's former security holders are eligible to receive future payments of up to $850m upon achievement by Rodin's development candidates of certain specified clinical and regulatory milestones. "Building on our broad experience in psychiatry, we believe this transaction will allow us to explore a wide array of neurodegenerative diseases and synaptopathies, which have been areas of significant interest to us as we have advanced our internal pipeline of medicines for CNS disorders. HDAC inhibitors are powerful epigenetic regulators that have therapeutic potential to address some of the most disruptive clinical symptoms that accompany neurogenerative diseases. This investment is reflective of our longstanding commitment to bring new and innovative therapeutic options to patients living with chronic CNS diseases where the unmet medical need is high," Richard Pops, Alkermes Chief Executive Officer.