Intra-Cellular Therapies Acquisition & Valuation

Intra-Cellular Therapies was acquired by Johnson & Johnson for $15B in January 2025, a 15.9x multiple on $921M of revenue.

Intra-Cellular Therapies acquisition price

$15B

Acquired by Johnson & Johnson · Jan 2025

Intra-Cellular Therapies revenue at acquisition

$921M

Last twelve months · Jan 2025

Intra-Cellular Therapies revenue multiple at acquisition

15.9x

EV/Revenue · Jan 2025

Key investors in Intra-Cellular Therapies

  • Deerfield
  • Broadfin Capital

Intra-Cellular Therapies Overview

About Intra-Cellular Therapies

Intra-Cellular Therapies is a New York-based biopharmaceutical firm developing CNS disorder treatments. Listed on NASDAQ as ITCI, the company markets Caplyta (lumateperone), approved in 2019 for schizophrenia and 2021 for bipolar depression in adults. Intra-Cellular Therapies advances ITI-007 for adjunctive therapy and explores candidates for Alzheimer's psychosis and postpartum depression. Its CNSProfile platform analyzes intracellular drug signaling for novel compound discovery.


Founded

2002

HQ

United StatesNew York City, NY

Status

Acquired

Customer focus

B2C

Revenue model

Product sales

Revenue

$921M (Jan 2025)

Valuation

$15B (acquired Jan 2025)

Intra-Cellular Therapies Acquisition

Intra-Cellular Therapies was acquired by Johnson & Johnson for $15B on 13 January 2025.

The acquisition price implies a 15.9x revenue multiple on $921M of revenue.

Intra-Cellular Therapies, Inc., a New York City-based biopharmaceutical company, develops and commercializes therapeutics for central nervous system disorders, including Caplyta, a once-daily oral therapy approved for schizophrenia and bipolar depression as monotherapy and adjunctive therapy, with FDA acceptance of a supplemental application in February 2025 for major depressive disorder. The company also advances ITI-1284 in Phase 2 for generalized anxiety disorder and Alzheimer’s disease-related psychosis and agitation, alongside a complementary clinical-stage pipeline. Johnson & Johnson, a multinational pharmaceutical and medical technologies corporation, announced on January 13, 2025, its acquisition of Intra-Cellular Therapies to strengthen neuroscience leadership, building on its 70-year legacy and targeting neuropsychiatric and neurodegenerative disorders. Under the definitive agreement, Johnson & Johnson will acquire all outstanding shares for $132 per share in cash, valuing the equity at $14.6 billion—the largest biopharma buyout in 11 months and biggest biotech deal since Pfizer’s $43 billion Seagen acquisition in 2022—funded by cash on hand and debt while maintaining priorities for R&D, dividends, acquisitions, and repurchases. Shareholder approval occurred on March 27, 2025, with closing on April 2, 2025; Intra-Cellular now operates as a business unit within Johnson & Johnson Innovative Medicine. The deal accelerates J&J’s 2025 sales growth by 0.8% via $0.7 billion incremental sales from Caplyta’s $5 billion+ peak potential, diluting adjusted EPS by $0.25 after financing costs, improved from prior $0.30–$0.35 estimates. J&J CEO Joaquin Duato described the acquisition as a portfolio differentiator and growth catalyst offering value to patients, health systems, and shareholders, while EVP Jennifer Taubert highlighted investments in neuroscience innovation for debilitating disorders. The transaction faced standard regulatory approvals and stockholder vote, with no reported competitive or market condition hurdles noted in announcements.

Intra-Cellular Therapies acquisition details
AcquirerDateTypePriceEV/Revenue
13 Jan 2025Strategic M&A$15B15.9x

Intra-Cellular Therapies Funding History

Intra-Cellular Therapies has 1 recorded secondary share sale and no primary funding rounds.

Intra-Cellular Therapies funding rounds

Intra-Cellular Therapies funding rounds
DateStageInvestorsRaisedDeal Summary
Sep 2013SecondaryBroadfin Capital; Deerfield$60MIntra-Cellular Therapies completed a $60 million private placement and reverse merger in September 2013, with new institutional investors including Deerfield Management and Broadfin Capital. The company, focused on developing novel drugs for neuropsychiatric and neurodegenerative diseases of the central nervous system, issued shares privately on August 29, 2013, in exchange for shares of its Delaware predecessor entity as part of the merger. Leerink Swann LLC acted as placement agent.

Who has invested in Intra-Cellular Therapies?

2 investors have backed Intra-Cellular Therapies across its funding rounds, including Deerfield and Broadfin Capital.


Intra-Cellular Therapies Investors

Investors in Intra-Cellular Therapies by funding rounds participated
InvestorHQRoundsRoleFirst check

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Intra-Cellular Therapies Competitors

Intra-Cellular Therapies competitors include listed companies like Exelixis, Sichuan Biokin, Ipsen and Summit Therapeutics, and private ones like Biosplice Therapeutics and Biocon Biologics.

Public and private companies comparable to Intra-Cellular Therapies
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
ExelixisUnited StatesUnited StatesPublicly listed$2.3B$901M$14B5.6x
Sichuan BiokinChinaChinaPublicly listed$376M($113M)$15B42.4x
IpsenFranceFrancePublicly listed$4.5B$1.1B$15B2.8x
Summit TherapeuticsUnited StatesUnited StatesPublicly listed-($1.1B)$14B5146.1x
Biosplice TherapeuticsUnited StatesSan Diego, CAPrivate--$12B-
Biocon BiologicsIndiaBangalorePrivate$1.1B-$4.5B4.2x

Intra-Cellular Therapies Public Comps

Intra-Cellular Therapies is no longer listed, but its public comps include Exelixis, Sichuan Biokin, Ipsen, Summit Therapeutics, Kelun-Biotech, Neurocrine Biosciences, PharmaEssentia, Yunnan Baiyao Group, Sobi and Ascendis Pharma.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Exelixis$2.3B$901M6.0x5.6x15.3x13.0x
Sichuan Biokin$376M($113M)40.2x42.4x(133.3x)(122.6x)
Ipsen$4.5B$1.1B3.1x2.8x12.6x6.8x
Summit Therapeutics-($1.1B)-5146.1x(12.5x)(16.8x)
Kelun-Biotech$307M($38M)43.5x36.8x(347.2x)(1347.5x)
Neurocrine Biosciences$2.9B$645M5.4x4.3x23.9x16.9x
PharmaEssentia$491M$150M30.1x19.9x98.8x47.8x
Yunnan Baiyao Group$6.1B$945M1.9x1.9x12.3x12.7x

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Common questions about Intra-Cellular Therapies

When was Intra-Cellular Therapies founded?Intra-Cellular Therapies was founded in 2002.
Where is Intra-Cellular Therapies headquartered?Intra-Cellular Therapies is headquartered in New York City, NY, United States.
Is Intra-Cellular Therapies publicly listed?No, Intra-Cellular Therapies was acquired by Johnson & Johnson in January 2025.
Who acquired Intra-Cellular Therapies?Intra-Cellular Therapies was acquired by Johnson & Johnson in January 2025.
How much was Intra-Cellular Therapies acquired for?Intra-Cellular Therapies was acquired for $15B in January 2025, a 15.9x revenue multiple.
Who are Intra-Cellular Therapies' investors?Intra-Cellular Therapies' investors include Broadfin Capital and Deerfield.
Which companies are comparable to Intra-Cellular Therapies?Companies comparable to Intra-Cellular Therapies include Exelixis, Sichuan Biokin, Ipsen, Summit Therapeutics, Biosplice Therapeutics and Biocon Biologics.

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