Sosei will buy Cambridge, UK-based biopharma Arakis -- a 2005 Fierce 15 winner -- for £106.5 million, the companies announced. The buyout comes on the heels of Novartis' decision to develop one of Arakis' products into a treatment for smoker's cough. Arakis has three other products in clinical development, including a cancer pain drug that will enter Phase III trials later this year.
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