Updated May. 8, 2014 at 3:18 p.m.

Premium Lock Charlotte drug firm led by former Pappas Ventures exec sells for $658M

Published: 2014-05-08 12:03:00
Updated: 2014-05-08 15:18:03

Chelsea's new CEO Joseph Oliveto Image 1 of 2 · Next Image…

Chelsea Therapeutics has agreed to be purchased by Danish global drug company Lundbeck for up-front cash and milestone payments to shareholders. The total depends on whether Chelsea's newly approved debut drug meets expectations when it hits the market. The buyout caps a stellar run for Joseph Oliveto, a former executive at Pappas Ventures in Durham....

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