Roche signs definitive agreement to acquire Memory Pharmaceuticals
Roche and Memory Pharmaceuticals today announced that the two companies have signed a definitive merger agreement for Roche to fully acquire Memory in an all-cash transaction at a price of approximately USD 50 million.
Memory develops innovative drug candidates for the treatment of debilitating central nervous system (CNS) disorders such as Alzheimer’s disease and schizophrenia. Memory’s nicotinic alpha-7 agonist drug candidates in these disease areas are already in partnered programmes with Roche: R3487 is in phase II clinical trials for Alzheimer’s disease and schizophrenia; R4996 is in phase I for Alzheimer’s disease.
“Acquiring Memory will enable Roche to secure the future development of its promising nicotinic alpha-7 agonists,” said William Burns, CEO Division Roche Pharmaceuticals. “The innovative work carried out by the scientists at Memory will be fully integrated into Roche’s R&D portfolio with the aim of providing new hope for patients and caregivers affected by devastating diseases such as Alzheimer’s.”
Jonathan Fleming, Chairman of the Board of Directors of Memory said: “Since founding Memory in 1998, we have focused on developing medicines that could make a real difference to the lives of CNS patients. I am proud of the progress our dedicated team has made and I am confident that Roche’s capabilities and experience in the CNS field will enable our research to realise its full potential.”
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