Canada-listed pharmaceutical company Knight Therapeutics has agreed to acquire a 51 percent stake in Uruguay-based, Brazil-listed drug development and manufacturing company Grupo Biotoscana (GBT) from private capital fund managers Advent International and Essex Woodlands Healthcare Partners for BRL595.6 million (approximately USD145 million). The deal will trigger a mandatory takeover bid by Knight for the remaining 49 percent stake in the company. Advent and Essex Woodlands acquired a controlling stake in Biotoscana in November 2011.