Adventrx acquires SD Pharmaceuticals' IP through merger
In the US, San Diego-based Adventrx Pharmaceuticals is to acquire the outstanding shares of California\'s SD Pharma, giving it worldwide rights to eight oncology and infectious disease product candidates.
In the US, San Diego-based Adventrx Pharmaceuticals is to acquire the outstanding shares of California's SD Pharma, giving it worldwide rights to eight oncology and infectious disease product candidates.
The deal has been approved by the boards of both companies, and by the SD Pharma stockholders who will receive around 2,100,000 shares of Adventrx common stock. SD Pharma co-founder Andrew Chen will continue to collaborate with Adventrx as a consultant.
Back in October 2005, Adventrx announced it had licensed from SD Pharma the US development and marketing rights to a novel emulsion formulation of vinorelbine tartrate - SDP-012 (ANX-530)M - which acts as an anticancer agent.
Certain other product candidates that Adventrx will acquire as a result of the merger are based on a nano-emulsion technology for both soluble and insoluble parenteral drugs. The technology developed by Dr Chen enables the delivery of vein-irritating or difficult-to-dissolve drugs without excipient-induced adverse effects.
Many of the product candidates are based on currently approved drugs and may qualify for the US "505(b)(2)" regulatory process, which allows the FDA to approve a follow-on drug on the basis of data in the scientific literature or data used by the FDA in the approval of other drugs. This makes it easier to obtain rapid approval of new forms of drugs.