Interesting, though it's one of those Contingent Value Rights (CVR) deals. I'm not a fan of CVRs but it might be difficult to do better in the sale of a Phase I company.
The Bradner factor: Roche bags a BET inhibitor in $535M Tensha buyout
January 10, 2016 | By John Carroll
http://www.fiercebiotech.com/story/bradner-factor-roche-bags-bet-inhibitor-535m-tensha-buyout/2016-01-10
Shadowy Shares: The Dark Side of Contingent Value Rights
May 9, 2011
Forbes
http://www.forbes.com/sites/greatspeculations/2011/05/09/shadowy-shares-the-dark-side-of-contingent-value-rights/