Pain startup lands $43M round, option to sell for up to $228M

In a flurry of deals, California startup Incline Therapeutics has landed a $43 million Series A to back the development of a pain med delivery system and landed a $3.5 million upfront for an option to sell the company to Cadence Pharmaceuticals. Cadence gets the right to buy Incline for $135 million during the first option period, with the price rising to $228 million in the second option period--plus a $57 million bonus if the FDA approves its pain delivery technology. Incline is...