Press Release
September 5, 2017

NeuroDerm Enters Agreement to be Acquired by Mitsubishi Tanabe for $1.1 Billion

Goodwin’s Life Sciences team advised NeuroDerm Ltd. (Rehovot, Israel), in patent strategy, prosecution and diligence matters surrounding its definitive agreement to be acquired by Mitsubishi Tanabe Pharma Corporation. The transaction, unanimously approved by NeuroDerm’s board of directors, has an equity value of approximately $1.1 billion. The transaction is expected to close in the fourth quarter of 2017, following regulatory and shareholder approvals.

NeuroDerm is a clinical-stage pharmaceutical company developing central nervous system (CNS) product candidates that are designed to overcome major deficiencies of current treatments and achieve enhanced clinical efficacy through continuous, controlled administration. NeuroDerm’s main focus is Parkinson’s disease, with three clinical stage product candidates in development that offer a solution for almost every Parkinson’s disease patient, from moderate to the very severe stage of the disease.

Mitsubishi Tanabe is headquartered in Doshomachi, Osaka, commonly referred to as the birthplace of Japan’s pharmaceutical industry. The company is focuses on the discovery of drugs to address unmet medical needs, specifically autoimmune diseases, diabetes and kidney diseases, central nervous system diseases, and vaccines.

The Goodwin team was led by partner Theresa Kavanaugh.