United Kingdom,United States : BAXTER INTERNATIONAL INC takes over AesRx LLC.
Deerfield-based Baxter International Inc announced the buyout of Massachusetts-based AesRx LLC, a small pharmaceutical firm focused on orphan drug treatments.
AesRx's most-promising treatment is a first-in-class oral compound aimed at treating sickle cell disease. The prophylactic treatment, originally developed by researchers at Virginia Commonwealth University, is in Phase 2 clinical studies and not yet approved by the U.S. Food and Drug Administration.
The company has not revealed the financial details of the transaction.
For the acquisition, Baxter will make an initial payment and the additional payments in future based on certain milestones.
Ludwig Hantson, president of Baxter BioScience said, With this acquisition, we gain a compound that has the potential to address an extremely high unmet clinical need in a community with inadequate treatment options and no recent major clinical developments.
Baxter BioScience is expected to become a separate company in 2015.
Hantson stated, The sickle cell program "is complementary to our established experience in hemophilia and supports our goals to raise the bar for care of patients with a range of blood-related disorders.
2014 Al Bawaba (Albawaba.com) Provided by SyndiGate Media Inc. ( Syndigate.info ).
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|Date:||Jul 11, 2014|
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