Friday, December 23, 2011
Meritage Pharma Gets $20M In Deal With ViroPharma
San Diego-based Metritage Pharma, which is developing drugs for treating chronic inflammatory diseases of the esophagus, is gaining up to $20M from ViroPharma, which is buying an exclusive option to acquire Meritage. ViroPharma said it paid an initial $7.5M, and up to an additional $12.5M for the development and exclusive right to purchase the company, upon completion of a series of clinical and regulatory deliverables. ViroPharma said it will have an option to acquire Meritage for $69.9M.