Respironics to bid for Profile Therapeutics

Respironics, a US-based developer, manufacturer and distributor of innovative products and programmes that serve the global sleep and respiratory markets, is to make a US$44.6m cash offer for Profile Therapeutics, of London.

The UK company, which distributes, develops and commercialises speciality products to improve the treatment of sleep and respiratory patients, would become a wholly owned subsidiary of Respironics and would be integrated into its international division and its respiratory drug delivery division (formerly the asthma and allergy division).

The acquisition has been approved by the boards of directors of both companies and completion is expected around the end of the second quarter of this year.

'This opportunity is consistent with our strategic plan, which calls for expanding our presence in the international sleep and respiratory markets, and enhances the breadth of our products and services,' said Respironics president and ceo John Miclot. 'Profile Therapeutics has developed innovative technologies that are complementary to our existing portfolio.'

Profile, which has represented Respironics' sleep and ventilation products in the UK for some 15 years, reported revenues for the last 12 months of £14.6m ($23.9m). Its core respiratory delivery system is an innovative platform that utilises 'intelligent inhalation' technology called Adaptive Aerosol Delivery (AAD). It is designed to respond automatically to an individual patient's' breathing patterns to deliver a precise dose synchronised with the patient's inhalation cycle.

The technology has the potential to benefit patients by ensuring a uniform drug dose and reproducible therapy, and in addition, allows for smaller fill volumes of drug to be used compared to conventional nebulizers. The company's second generation AAD system, Prodose, is approved for use in the UK, various markets in Europe and has recently received 510K clearance from the US FDA.