Date: 2015-06-29
Type of information: Company acquisition
Acquired company: Spinifex Pharmaceuticals (Australia - USA - CT)
Acquiring company: Novartis (Switzerland)
Amount: undisclosed
Terms: * On June 29, 2015, Novartis announced that it has entered into an agreement to acquire Spinifex Pharmaceuticals. Financial terms were not disclosed.
Details: This acquisition adds a novel angiotensin II Type 2 receptor antagonist for the treatment of neuropathic pain to Novartis' industry-leading development pipeline. Spinifex Pharmaceuticals, a US and Australian-based, privately held development stage company, is focused on developing a peripheral approach to treat neuropathic pain such as EMA401, a novel angiotensin II Type 2 receptor (AT2R) antagonist. Positive results from Spinifex's Phase II clinical trial of EMA401 in post-herpetic neuralgia, a painful condition that develops in some people following herpes zoster (shingles), have been published in The Lancet, showing its efficacy. No central nervous system side effects or any serious adverse events have been observed in the study.
Related: CNS diseases
