Amira Pharmaceuticals, a US-based drug discovery company backed by Danish medical foundation Novo among other venture investors, has been sold to Bristol-Myers Squibb for as much as $475m.
Amira has been bought with $325m of cash and potential performance-based payments up to $150m.
Amira was advised by US bank JP Morgan and law firm Cooley, while Bristol-Myers Squibb was advised by US law firm Covington & Burling.
In March 2007 Amira raised $25m in its series B round led by Novo. Other investors in the B round were venture capital firms Avalon Ventures, Prospect Venture Partners and Versant Ventures. At that stage the company had raised $40m after it was founded in 2005.
Amira researches and develops drugs to treat inflammatory disease.