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Announced

Completed

Cortexyme completed the acquisition of Novosteo for $120m.

Financials

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Transaction Value£97m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Acquisition

United States

Private

Majority

Single Bidder

Pharmaceuticals

Domestic

drug discovery

Friendly

Completed

Synopsis

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Cortexyme, a clinical-stage biopharmaceutical company, completed the acquisition of Novosteo, a developer of a drug discovery platform, for $120m. "The acquisition of Novosteo adds a highly promising set of assets and meaningfully expands the breadth of our management team. On behalf of Cortexyme’s Board, I would like to thank Chris Lowe for his leadership as interim CEO and guiding us through this acquisition," David Lamond, Cortexyme Chairman of Board of Directors.

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