Teva Pharmaceutical Industries, shown here, bought NuPathe for $144 million. Photo by Ronen Zvulun for Reuters.
Malvern-based pharmaceutical company NuPathe was acquired by Israeli company Teva, which also has a regional presence, for $144 million in cash, according to a release. The publicly-traded NuPathe chose Teva’s offer over a competing offer from Chester County-based Endo Health Solutions.
The company makes a migraine painkiller called Zecuity. It was a former Science Center tenant.
NuPathe was backed by Safeguard Scientifics, making that two exits for the venture capital firm in as many months. Other investors include Quaker BioVentures, Benjamin Franklin Technology Partners, Bio Advance and Battelle Ventures. This is a classic Philadelphia technology business story: biomedical innovation developed, commercialized, invested in, gone public and then acquired by a larger pharma company.
Read our 2009 Q&A with former NuPathe CEO Jane Hollingsworth here.-30-
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