AstraZeneca to buy Pearl Therapeutics for up to $1.1B

Pearl Therapeutics, led by CEO Chuck Bramlage, has agreed to be acquired for up to $1.15B by AstraZeneca.

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Cromwell Schubarth: Senior Technology Reporter- Silicon Valley Business Journal; Email | Twitter | Google+

AstraZeneca said on Monday that it has agreed to buy the respiratory drug maker Pearl Therapeutics for up to $1.15 billion.
Redwood City-based Pearl, led by CEO Chuck Bramlage, had raised about $167 million since it was founded in 2006.
Pearl's lung treatments are in the emerging market known as LABA/LAMA drugs that treat patients without steroids. The disease it treats, chronic obstructive pulmonary disease, affects an estimated 210 million people worldwide.
AstraZeneca said the initial payment for the venture-backed company that makes treatments for respiratory diseases including asthma is $560 million. The rest will come if Pearl hits regulatory and sales milestones.
Pearl's backers include Vatera Healthcare Partners, 5AM Ventures, Clarus Ventures, Nektar Therapeutics, and New Leaf Venture Partners.
Click here to read the press release from Astrazenica.
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