Specialty pharma company Arbor Pharmaceuticals has acquired XenoPort, Inc. (NASDAQ: XNPT), maker of Horizant, a potential treatment for patients with “alcohol use disorder.” XenoPort develops and commercializes a portfolio of product candidates for the treatment of neurological and other disorders in the United States. The company has entered into a clinical trial agreement with the National Institute on Alcohol Abuse and Alcoholism.
Arbor will pay $7.03 per share in cash, or a total equity value of approximately $467 million.
Centerview Partners is serving as exclusive financial advisor to XenoPort, and Weil, Gotshal & Manges LLP is serving as legal advisor to XenoPort. Deutsche Bank has provided sole committed debt financing to Arbor in support of the transaction. Alston & Bird, LLP and Simpson, Thacher & Barlett LLP acted as legal advisor to Arbor.