Pharma BD Deal Intelligence
Outcome grade pending — assessed 5 years post-close.
Full analysis, sources & comparables →Alkermes' Rodin acquisition came on the heels of cost-cutting and was framed as a strategic pivot toward CNS depth; analysts noted Rodin's preclinical stage…
LifeSciVC framed the deal as a vindication of Atlas Venture's bold thesis that selective HDAC-CoREST inhibition could safely modulate epigenetic synaptogenesis…
Alkermes' bolt-on of Rodin was characterized as a pipeline-thickening move with milestone-heavy economics, though commentators questioned whether preclinical…
Source summaries from our enrichment pipeline; follow links for originals.
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Alkermes acquired Rodin Therapeutics in November 2019 for $100M upfront plus up to $850M in clinical, regulatory and sales milestones (~$950M total; closed Nov 25, 2019). The deal added Rodin's preclinical, orally available, brain-penetrant CoREST-selective HDAC inhibitors targeting synaptopathies in neurodegenerative disease. The lead asset, ALKS 1140 (formerly RDN-929), entered a first-in-human Phase 1 study (NCT05019105) with first subject dosed in late 2021, but Alkermes terminated that study on Aug 23, 2022 by "Sponsor Decision" after enrolling 20 of a planned cohort. No successor HDAC-CoREST program has since appeared in Alkermes' pipeline: the company separated its oncology business (Mural Oncology) in November 2023 to become a pure-play neuroscience company centered on the orexin OX2R agonist ALKS 2680. The ~$850M milestone tail is therefore effectively unrealizable and the acquired program is discontinued.
Assessment window: 5yr post-close.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Alkermes plc / Rodin Therapeutics, Inc. (this deal) | 2019 | $950M | — |
| Alkermes plc / Cephalon, Inc. (Vivitrol rights) | 2008 | $27M | 83 |
| Novartis AG / Advanced Accelerator Applications S.A. | 2017 | $3.9B | 98 |
| Allergan plc / Merck & Co., Inc. (CGRP receptor antagonist program) | 2015 | $250M | 91 |
| Cephalon Inc. / Laboratoire L. Lafon S.A. (Group Lafon) | 2000 | $450M | 89 |
| Teva Pharmaceutical Industries Ltd. / Auspex Pharmaceuticals | 2015 | $3.5B | 86 |
| Teva Pharmaceutical Industries Ltd. / Biogal Pharmaceutical | 1995 | — | 82 |
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