Arbor Pharmaceuticals, LLC and XenoPort, Inc. (NASDAQ:XNPT) announced today that they have signed a definitive agreement under which Arbor will acquire XenoPort for $7.03 per share in cash, or a total equity value of approximately $467 million.
Centerview Partners acted as exclusive financial advisor to XenoPort, and Goodwin Procter represented Centerview Partners in this transaction.
Arbor Pharmaceuticals, headquartered in Atlanta, Georgia, is a specialty pharmaceutical company currently focused on the cardiovascular, hospital and pediatric markets. The company has over 600 employees including 500 sales professionals promoting its products to physicians, hospitals and pharmacists. Arbor currently markets twenty NDA or ANDA approved products with over 35 more in development.
XenoPort, Inc. is a biopharmaceutical company focused on commercializing HORIZANT in the United States. XenoPort has entered into a clinical trial agreement with the National Institute on Alcohol Abuse and Alcoholism (NIAAA) under which the NIAAA has initiated a clinical trial evaluating HORIZANT as a potential treatment for patients with alcohol use disorder.
The Goodwin team advising Centerview Partners in this transaction was led by partners Stuart Cable, James Matarese and Deborah Birnbach, and associate Blake Liggio.
To learn more about the transaction, please view the press release.