On the eve of a planned $75 million initial public offering, Chelsea biotech firm Civitas Therapeutics has been acquired by an Ardsley, NY-based biotech for $525 million. Acorda Therapeutics , which is developing treatments for multiple sclerosis and spinal cord injury treatments, will be buying worldwide rights to CVT-301, a Phase 3 inhaled drug delivery technology for controlling episodes of Parkinson's disease.
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