Civitas Therapeutics is a biopharmaceutical company developing pulmonary delivery products that is headquartered in Chelsea, Massachusetts and was founded in 2009 by Glenn V. Batchelder, James Wright, Martin Freed, and Richard Batycky.
On January 10, 2011 Civitas Therapeutics completed their series A funding round with $20 million in funding from Longitude Capital and Canaan Partners.
On September 11, 2013 Civitas Therapeutics completed their series B round with $38 million in funding from Bay City Capital (lead investor), RA Capital Management, Longitudinal Capital, Fountain Healthcare Partners, Canaan Partners, and Alkermes.
On August 25, 2014 Civitas Therapeutics completed their series C funding round with $55 million in funding from Adage Capital Management, OrbiMed Advisors, Partner Fund Management, Rock Springs Capital, Sofinnova Ventures, Alkermes, Bay City Capital, Canaan Partners, Fountain Healthcare Partners, Longitude Capital, RA Capital, and Wellington Management Company.
Acquired by Acorda Therapeutics
On September 24, 2014 Acorda Therapeutics entered into an agreement to acquire Civitas Therapeutics for $525 million. The agreement gives Acorda Therapeutics rights to Civitas Therapeutics proprietary technology, including their treatment for Parkinson's disease CVT-301, their ARCUS pulmonary delivery technology, and their commercial scale manufacturing facility in Chelsea, Massachusetts.
Acorda Therapeutics to Acquire Civitas Therapeutics
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