Acorda Has Filed Tender Offer Document Relating to Public Tender Offer For Biotie Therapies with Finnish Financial Supervisor...
03 Marzo 2016 - 7:30AM
Business Wire
As announced on January 19, 2016, Acorda Therapeutics, Inc.
(Nasdaq:ACOR) (“Acorda”) and Biotie Therapies Corp. (Nasdaq
Helsinki: BTH1V; Nasdaq: BITI) (“Biotie”) have entered into a
Combination Agreement pursuant to which Acorda will make a
voluntary public tender offer in Finland and in the United States
to acquire all of the issued and outstanding shares, American
Depositary Shares, stock options, share units and warrants in
Biotie that are not owned by Biotie or any of its subsidiaries (the
“Tender Offer”).
Acorda has filed the tender offer document with the Finnish
Financial Supervisory Authority ("FIN-FSA") for approval. Acorda
will commence the offer period under the Tender Offer as soon as
practicable after the receipt of both the FIN-FSA approval of the
tender offer document and certain regulatory relief from the US
Securities and Exchange Commission (“SEC”). Currently, the offer
period is expected to commence by mid-March 2016.
About Acorda Therapeutics
Founded in 1995, Acorda Therapeutics is a biotechnology company
focused on developing therapies that restore function and improve
the lives of people with neurological disorders.
Acorda has an industry leading pipeline of novel neurological
therapies addressing a range of disorders, including Parkinson’s
disease, epilepsy, post-stroke walking deficits, migraine, and
multiple sclerosis. Acorda markets three FDA-approved
therapies, including AMPYRA® (dalfampridine) Extended Release
Tablets, 10 mg.
For more information, please visit www.acorda.com.
About Biotie Therapies
Biotie is a specialized drug development company focused on
products for neurodegenerative and psychiatric disorders. Biotie's
development has delivered Selincro (nalmefene) for alcohol
dependence, which received European marketing authorization in 2013
and is currently being rolled out across Europe by partner H.
Lundbeck A/S. The current development products include tozadenant
for Parkinson's disease, which is in Phase 3 development, and two
additional compounds which are in Phase 2 development for cognitive
disorders including Parkinson's disease dementia, and primary
sclerosing cholangitis (PSC), a rare fibrotic disease of the
liver.
For more information, please visit www.biotie.com.
Forward-Looking Statements
This press release includes forward-looking statements. All
statements, other than statements of historical facts, regarding
management's expectations, beliefs, goals, plans or prospects
should be considered forward-looking. These statements are subject
to risks and uncertainties that could cause actual results to
differ materially, including: the ability to complete the Biotie
transaction on a timely basis or at all; the ability to realize the
benefits anticipated from the Biotie and Civitas transactions,
among other reasons because acquired development programs are
generally subject to all the risks inherent in the drug development
process and our knowledge of the risks specifically relevant to
acquired programs generally improves over time; the ability to
successfully integrate Biotie’s operations and Civitas’ operations,
respectively, into our operations; we may need to raise additional
funds to finance our expanded operations and may not be able to do
so on acceptable terms; our ability to successfully market and sell
Ampyra in the U.S.; third party payers (including governmental
agencies) may not reimburse for the use of Ampyra or our other
products at acceptable rates or at all and may impose restrictive
prior authorization requirements that limit or block prescriptions;
the risk of unfavorable results from future studies of Ampyra or
from our other research and development programs, including
CVT-301, Plumiaz, or any other acquired or in-licensed programs; we
may not be able to complete development of, obtain regulatory
approval for, or successfully market CVT-301, Plumiaz, any other
products under development, or the products that we would acquire
if we complete the Biotie transaction; the occurrence of adverse
safety events with our products; delays in obtaining or failure to
obtain and maintain regulatory approval of or to successfully
market Fampyra outside of the U.S. and our dependence on our
collaborator Biogen in connection therewith; competition; failure
to protect our intellectual property, to defend against the
intellectual property claims of others or to obtain third party
intellectual property licenses needed for the commercialization of
our products; and failure to comply with regulatory requirements
could result in adverse action by regulatory agencies.
Additional Information
The tender offer described in this release has not yet
commenced, and this release is neither an offer to purchase nor a
solicitation of an offer to sell securities. At the time the Tender
Offer is commenced, we will file with the SEC a tender offer
statement on Schedule TO. Investors and holders of Biotie equity
securities are strongly advised to read the tender offer statement,
including the offer to purchase, letter of transmittal, acceptance
forms and other related tender offer documents (collectively, the
“Tender Offer Documents”) and the related
solicitation/recommendation statement on Schedule 14D-9 that will
be filed by Biotie with the SEC, because they will contain
important information. These documents will be available at no
charge on the SEC’s website at www.sec.gov upon the commencement of
the Tender Offer. In addition, a copy of the Tender Offer Documents
may be obtained upon commencement of the Tender Offer free of
charge by directing a request to us at www.acorda.com or Office of
the Corporate Secretary, 420 Saw Mill River Road, Ardsley, New York
10502.
In addition to the Tender Offer Documents, we file annual,
quarterly and special reports, proxy statements and other
information with the SEC. You may read and copy any reports,
statements or other information filed by us at the SEC public
reference room at 100 F Street, N.E., Washington, D.C. 20549.
Please call the SEC at 1-800-SEC-0330 for further information on
the public reference room. Our filings with the SEC are also
available to the public from commercial document-retrieval services
and at the website maintained by the SEC at www.sec.gov.
THE OFFER WILL NOT BE MADE DIRECTLY OR INDIRECTLY IN ANY
JURISDICTION WHERE EITHER AN OFFER OR PARTICIPATION THEREIN IS
PROHIBITED BY APPLICABLE LAW OR WHERE ANY TENDER OFFER DOCUMENT OR
REGISTRATION OR OTHER REQUIREMENTS WOULD APPLY IN ADDITION TO THOSE
UNDERTAKEN IN FINLAND AND THE UNITED STATES.
IN ADDITION, THE TENDER OFFER DOCUMENTS AND THIS RELEASE WILL
NOT AND MAY NOT BE DISTRIBUTED, FORWARDED OR TRANSMITTED INTO OR
FROM ANY JURISDICTION WHERE PROHIBITED BY APPLICABLE LAW. IN
PARTICULAR, THE TENDER OFFER IS NOT BEING MADE, DIRECTLY OR
INDIRECTLY, IN OR INTO, CANADA, JAPAN, AUSTRALIA, SOUTH AFRICA OR
HONG KONG. THE TENDER OFFER CANNOT BE ACCEPTED BY ANY SUCH USE,
MEANS OR INSTRUMENTALITY OR FROM WITHIN CANADA, JAPAN, AUSTRALIA,
SOUTH AFRICA OR HONG KONG.
This release is for informational purposes only and does not
constitute a tender offer document or an offer, solicitation of an
offer or an invitation to a sales offer. Potential investors in
Finland shall accept the Tender Offer only on the basis of the
information provided in the tender offer document once approved by
the Finnish Financial Supervisory Authority and related
materials.
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version on businesswire.com: http://www.businesswire.com/news/home/20160302006503/en/
Acorda TherapeuticsFelicia Vonella,
914-326-5146fvonella@acorda.com
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