Wednesday, December 12, 2012

Cadence Pharmaceuticals Terminates Buyout Option For Incline Therapeutics

San Diego-based Cadence Pharmaceuticals said this morning that it has entered into an agreement to terminate an option it has to acquire Incline Therapeutics. Cadence said it will receive approximately $13M from The Medicines Company to terminate the option, plus approximately $1.5M related to the purchase of Incline by The Medicines Company. Cadence said the move would provide it with non-dilutive capital and a "solid return" on its original investment in Incline.