Abbott Signs Deal with Enanta

Abbott Labs (NYSE: ABT) and Enanta Pharmaceuticals have signed a global agreement to jointly develop and commercialize hepatitis C virus (HCV) NS3 and NS3/4A protease inhibitors. Upon closing, Entanta will receive a $57 million upfront payment, which includes both cash and an equity investment, while the entire deal could be worth more than $250 million. Enanta is a Watertown, Mass.-based drug developer that has raised around $90 million in VC funding from firms like Advent International, AlpInvest Partners, Alpha Associates, BioVentures Investors, Global Biomedical Partners, Lancet Capital, Oxford Bioscience Partners, TVM Capital and Wheatley Partners.