Cephalon set to acquire Ception

Cephalon has announced it has signed an agreement with Ception to acquire the company.

As a result of the deal, the organisation will purchase outstanding capital stock from its partner for an upfront fee of $100 million (68.4 million pounds).

The group went on to say it has the option to purchase all outstanding stock for $250 million, with Ception shareholders able to receive addition payments relating to regulatory and clinical milestones.

Frank Baldino Jr., chairman and chief executive officer of Cephalon, said the deal builds the company’s heritage as a biotech organisation.

He added it also “creates the opportunity for Cephalon to introduce its first biologic into the market”.

“The addition of biologics, which have a longer commercial life, will add higher value products to our portfolio.”

Founded in 1987 and headquartered in Frazer, US, Cephalon’s revenue in 2007 was $1.77 billion.

Its product portfolio includes Treanda, Vivitrol, Fentora and Amrix.