Sunovion (Sumitomo Dainippon's U.S. subsidiary) agreed to acquire Cynapsus Therapeutics for $40.50/share cash, ~$624M total (~120% premium). Lead asset APL-130277, a Phase 3 sublingual apomorphine film for off-episodes in Parkinson's disease. Closed October 24, 2016. Approved as Kynmobi in 2020 (since discontinued).
Did it work? Outcome assessment
Strategic verdict
Partially Achieved
Financial impact
Impaired/Written Down
Pipeline outcome
Assets Advanced
Assessment window: 5yr post-close.
Key facts
AnnouncedAug 22, 2016
ClosedOct 24, 2016
Deal value$624M
Deal typeAcquisition/Merger
Therapeutic areaOff-episodes in Parkinson's disease
IndicationsOff-episodes in Parkinson's disease
Key assetsAPL-130277 (apomorphine sublingual film; later Kynmobi)
MechanismSublingual thin film formulation of apomorphine (dopamine agonist)