Date: 2013-03-08
Type of information: Company acquisition
Acquired company: Greer Laboratories (USA)
Acquiring company: Ares Life Sciences (Switzerland)
Amount: undisclosed
Terms: * On April 30, 2013, Ares Life Sciences, a healthcare-focused investment group, has announced the completion of the previously disclosed acquisition of 100% of the share capital of Albion Medical Holdings, including its wholly owned subsidiary GREER® Laboratories, a leader in allergy immunotherapy in the United States. GREER’s clinical development programs are focused on the company’s investigational sublingual allergy immunotherapy liquid (SAIL™). The company recently completed a successful Phase III study evaluating the efficacy and safety of GREER® SAIL™ as a treatment for adults with short ragweed allergies. Sublingual allergy immunotherapy (SLIT) is a method of allergy immunotherapy that delivers the same liquid allergenic extract approved for subcutaneous injections, but it is administered under the tongue. SLIT has been widely accepted as a safe, effective treatment for allergic rhinitis in Europe for years. However, SLIT is currently investigational in the United States.
* On March 8, 2013, Ares Life Sciences has announced that it has signed a definitive agreement to acquire 100% of the share capital of Albion Medical Holdings, Inc., including its wholly owned subsidiary GREER® Laboratories, a leader in allergy immunotherapy in the United States. Closing of the transaction is subject to U.S. regulatory approvals and certain closing conditions.
Details: GREER® Laboratories is a leading developer and provider of allergy immunotherapy products and services for treating humans and animals. Fully devoted to allergy immunotherapy, the company offers a full range of quality products and services for allergy immunotherapy to allergy specialists. The company operates through three business units: human allergy, veterinary allergy, and commercial development. Founded in 1904, GREER is located in Lenoir, North Carolina. Its clinical development programs are focused on the company’s investigational sublingual allergy immunotherapy liquid (SAIL™). The company recently completed a successful Phase III study evaluating the efficacy and safety of GREER® SAIL™ as a treatment for adults with short ragweed allergies.
Related: allergy immunotherapy
