Date: 2013-07-11
Type of information: Company acquisition
Acquired company: Phlogo (Denmark
Acquiring company: Serodus (Norway)
Amount:
Terms: * On July 10, 2013, Serodus ASA, a fast-growing Norwegian cardiovascular biopharma has announced that, following approval by an EGM, it is to merge with Danish peptide specialist Phlogo ApS. The merger will accelerate Serodus’ commercialisation and development strategy with the addition of two first-in-class drug candidates SER130, an IL-4 partial receptor agonist for Acute Myocardial Infarction (AMI) and SER140, an IL-1 receptor antagonist for Type 2 diabetes.* On June 7, 2013, the board of Serodus and the owners of Phlogo have signed an agreement to merge the companies. The transaction is conditional on approval of the shareholders in Serodus ASA. An extraordinary shareholders meeting will take place on 4th July 2013.
Details: SER130 is an IL-4 partial receptor agonist, which inhibits liberation of of TNF? in cells stimulated in an inflammatory cascade. In experimental inflammatory in vivo models SER130 has proven to inhibit inflammation. This first-in-class compound will shortly enter the preclinical development phase. Acute Myocardial Infarction commonly known as heart attack, results from interruption of blood supply to a part of the heart muscle, causing the heart cells to die. In the first few hours after a heart attack a pronounced inflammation is mobilized in the heart tissue around the area with significant decrease in blood and oxygen supply. This inflammatory process worsens the tissue damage and appears to play a pivotal role in the scar formation and may also increase the short-term risk of recurrent cardiac ischemia. SER130 is expected to inhibit this early inflammatory process and thereby reduce the size of scaring developed after a heart attack.SER140 is also a first-in-class IL-1 receptor antagonist for treatment of Type 2 diabetes, which inhibits liberation of TNF? in cells stimulated in an inflammatory cascade. In type 2 diabetes inflammatory processes are activated not only around the insulin producing cells in the pancreas, but also around the insulin receptors in the peripheral organs and tissues which are supposed to be responsible for decreased insulin sensitivity during the early phases of diabetes.
Related: Cardiovascular diseases
