Date: 2014-10-02
Type of information: Company acquisition
Acquired company: BioChromix NewCo (Sweden)
Acquiring company: Cadila Pharmaceuticals (India)
Amount: undisclosed
Terms: * On October 2, 2014, Cadila Pharmaceuticals announced the acquisition of BioChromix NewCo AB, Sweden, through its subsidiary, Cadila Pharmaceuticals Sweden AB. The subsidiary had been incorporated recently to explore and facilitate business interactions between Cadila Pharmaceuticals, prospective collaborators and academic groups. BioChromix NewCo AB develops new and innovative therapies targeting protein misfoldin. BioChromix NewCo’s compound class is believed to selectively bind to, neutralize and eliminate soluble, toxic protein oligomers, protofibrils and soluble aggregates that are thought to contribute to the neurodegenerative process in many diseases affecting the nervous system. Cadila Pharmaceuticals will continue the preclinical and clinical development of drug candidates that have been developed by BioChromix NewCo. According to the agreement, the development will be milestone based and will be conducted at Cadila Pharmaceuticals’ state-of-the-art research facility in Ahmedabad, Gujarat, India. With all the necessary resources required, Cadila Pharmaceuticals Ltd. will take this program into clinical development and further towards the market.
Details:
Related: Neurodegenerative diseases
