Baxter acquires biopharmaceutical company SuppreMol for €200m
Deal includes SuppreMol's early-stage pipeline of protein therapeutics for autoimmune and allergic diseases
Baxter International has acquired SuppreMol, a privately held biopharmaceutical company based in Martinsried, Germany, for €200m (approximately US$225m).
SuppreMol specialises in developing therapeutics for autoimmune and allergic diseases and will become part of Baxter's Bioscience Business, which is expected to be established as a separate, publicly traded biopharmaceutical company by the middle of this year.
The deal includes SuppreMol's early-stage development portfolio of novel biologic immunoregulatory therapeutics for the treatment of autoimmune diseases, focusing on the modulation of Fc receptor signalling pathways, an immune target that could have broad applications in autoimmune disorders.
In addition, Baxter acquires and will continue to operate SuppreMol's operations in Munich.
SuppreMol's pipeline includes lead candidate SM101, an investigational immunoregulatory treatment that has completed Phase 2a studies in idiopathic thrombocytopenic purpura (ITP, a disorder causing low platelet levels) and systemic lupus erythematosus (SLE, a disorder in which the immune system attacks healthy tissue).
The pipeline also includes technologies with potential therapeutic applications in other autoimmune diseases as well as IgE-mediated allergic diseases.
'SuppreMol's portfolio of novel investigational treatments complements and builds upon our leading and differentiated immunology portfolio, offering the opportunity to expand into new areas with significant market potential and unmet medical needs in autoimmune diseases,' said Ludwig Hantson, President of Baxter BioScience.
'SuppreMol has built a rare combination of leading science and promising therapeutic assets. We are proud that this important work will now continue at Baxter BioScience,' added Thomas Hecht, Chairman of the Advisory Board of SuppreMol.