Posted on 07/04/2010 in Pharmaceutical Company Restructures Cephalon has completed its acquisition of the biopharmaceuticals company Ception Therapeutics, a process which it commenced in February 2009.
The acquired company, creator of the eosinophilic asthma treatment Cinquil, has now become a wholly-owned subsidiary of Cephalon, which paid $250 million (163.8 million pounds) to purchase all outstanding stock of Ception.
This merger came about after Cephalon exercised its option to acquire the firm following positive results from a phase II clinical trial of Cinquil, Ception's lead compound.
It will now be hoping to advance the promising drug to the phase III developmental stage, a move which will also allow the company to diversify its offerings in the biologic pharmaceuticals market.
Dr Frank Baldino Jr, Cephalon's chairman and chief executive officer, added: "Cinquil, in addition to our other biologics, peptides and small molecule compounds, provides Cephalon with a robust pipeline of opportunities to bring new therapies to patients over the next several years."Other news stories from 07/04/2010
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