Acorda Therapeutics acquires Biotie Therapies and with it tozadenant and SYN 120.

Acorda Therapeutics, Inc. announced that it entered into an agreement to acquire Biotie Therapies Corp. for �23.5680 per ADS in cash, or the equivalent of $25.60 per ADS based on an exchange rate of 1.0864 U.S. dollars to euros, which values Biotie at approximately $363 million. Acorda will obtain worldwide rights to tozadenant, an oral adenosine A2a receptor antagonist currently in Phase III development in Parkinson�s disease (PD). In a Phase IIb clinical trial, tozadenant reduced average daily OFF time as an adjunct to treatment regimens including levodopa/carbidopa. Further expanding its Parkinson�s pipeline, Acorda will also obtain global rights to SYN 120, an oral, 5-HT6/5-HT2A dual receptor antagonist for Parkinson�s-related dementia, in Phase II development with support from the Michael J. Fox Foundation.