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Sunovion Pharmaceuticals has acquired Elevation Pharmaceuticals, a specialist in aerosol therapies for respiratory diseases. The acquisition includes Elevation’s EP-101, a long-acting bronchodilator in Phase II clinical trials for the treatment of chronic obstructive pulmonary disease. Sunovion, a subsidiary of Dainippon Sumitomo Pharma, will pay $100 million to Elevation’s shareholders plus developmental milestone payments of up to $90 million and commercial milestone payments of up to $210 million. Sunovion was called Sepracor until Dainippon Sumitomo acquired it in 2009.
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