Pharmaxis to acquire Topigen Pharmaceuticals
Pharmaxis, an Australian pharmaceutical company researching and developing drugs for chronic respiratory and immune disorders, is to acquire Canadian drug developer Topigen Pharmaceuticals. The transaction is expected to close within the next 60 days.
Pharmaxis, an Australian pharmaceutical company researching and developing drugs for chronic respiratory and immune disorders, is to acquire Canadian drug developer Topigen Pharmaceuticals. The transaction is expected to close within the next 60 days.
"Pharmaxis has the resources, expertise and track record of success in bringing important new therapies through development to treat respiratory disorders and is therefore a valuable fit for Topigen's assets," said Mark Parry-Billings, ceo of Topigen.
"This transaction provides a promising future for our novel programmes to treat asthma and COPD, the potential to realise a return for our shareholders, and in the long-term, promise for patients."
Topigen is developing a pipeline of drugs based on its multi-targeted oligonucleotide technology. The lead drug candidate, TPI ASM8, is in Phase II clinical development for the management of moderate to severe asthma. A second drug candidate, TPI 1100, is in preclinical development for COPD.
Pharmaxis ceo Alan Robertson said Topigen's potential new drugs were an "ideal fit" for his company.
"The Topigen product, ASM8, is due to report the results of its Phase II dosing trial in the first half of this year. It has an attractive clinical profile and there remains a strong medical need for new products in the severe and specialist-treated asthma market."