Japan's Sosei Group Acquires UK's Heptares Therapeutics for Up to $400M

Sosei Group Corporation (OTC:

) announces that it has acquired Heptares Therapeutics Limited. Sosei has acquired 100% of Heptares' share capital for $180 million in cash consideration and up to $220 million contingent upon the successful progression of the company's pipeline and platform. The combination will create a leading global biopharmaceutical group with: -sustainable, proven and highly successful drug discovery and clinical development capabilities for generating innovative medicines; -a broad and balanced pipeline with strong growth prospects, including products with blockbuster potential; -access to global pharmaceutical markets; -regulatory expertise across the EU, US and Japan; and -a significant cash balance.