Posted on 21/07/2010 in Pharmaceutical Company Restructures Actelion has announced a new deal that gives it the exclusive option to purchase Trophos, a privately-held pharmaceutical company based in France.
The binding agreement has been valued at 10 million euros (8.4 million pounds) and is dependent on the clinical progress of the new treatment olesoxime, a therapy for amyotrophic lateral sclerosis.
Should the drug, which is Trophos' lead compound, display positive performance in a phase III study when results are reported in 2011, Actelion will exercise its option to purchase the company for between 125 million and 195 million euros.
In addition to this, the agreement will also see Actelion gain access to Trophos' proprietary CNS assay technology and compound library as part of joint research into neuronal degeneration.
Martine Clozel, chief scientific officer at Actelion, said: "Trophos has a pioneering approach and proprietary expertise that has enabled the development of high throughput screens using primary neurons as well as the ability to broadly profile more advanced compounds."
This week, Actelion also announced its financial results for the second quarter of 2010, during which it experienced a 13 per cent year-on-year sales growth.Other news stories from 21/07/2010
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