Invidior to acquire Opiant Pharma and with it OPNT 003, an investigational opioid overdose reversal agent.
Indivior PLC and Opiant Pharmaceuticals, Inc. announced that the companies have entered into a definitive agreement under which Indivior will acquire Opiant for an upfront consideration of $20.00 per share, in cash (approximately $145 million in aggregate), plus up to $8.00 per share in contingent value rights that may become payable in the event that certain net revenue milestones are achieved during the relevant seven-year period by OPNT 003 after its approval and launch
The transaction has been unanimously approved by the boards of directors of each company. Opiant is a biopharmaceutical company developing treatments for addiction and drug overdose leveraging intranasal and injectable delivery technologies. Opiant contributed to the development of the formulation of Narcan Nasal Spray, a treatment to reverse opioid overdose. In addition to OPNT 003, nasal nalmefene, the pipeline includes OPNT 002, nasal naltrexone, which is currently in a Phase II trial to assess its potential as a treatment for alcohol drinking and cravings, and OPNT 004, a CB-1 antagonist in preclinical development as a potential injectable treatment for acute cannabinoid overdose.
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