PhII Alzheimer's data looming, Shionogi spending up to $500M on a buyout involving one of the toughest bets in biotech

Shionogi moved a couple of months ago to get in tight with a low-profile biotech called Tetra Therapeutics in Grand Rapids, MI. And whatever they learned about their 2 Phase II studies in Alzheimer’s and Fragile X syndrome persuaded the pharma player to ante up to $500 million more on a buyout.