San Diego-based specialty pharmaceutical company, Neurelis, and Finnish specialised drug development firm, Biotie Therapies, have entered into an agreement to further develop the former’s NRL-1 (intranasal diazepam) and to provide the latter with the exclusive option to acquire all its outstanding shares of its merger target.
Under the terms of the option and merger agreement between the companies, Biotie will first pay Neurelis $1 million for the exclusive option to acquire all the NRL-1-developer’s outstanding shares.
Then, during the negotiated option period, Biotie will conduct the…
