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news.NeuroVive Pharmaceutical has completed the second step in the previously announced partial acquisition of the British drug discovery and development company Isomerase Therapeutics.
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NeuroVive now holds approximately 10 percent of the shares in Isomerase. The overall aim with the acquisition is to strengthen the existing partnership and accelerate NeuroVive’s research and development (R&D) program.
The now completed acquisition includes approximately 5% further of the shares in Isomerase through a 550 000 GBP cash payment.
The first step in the acquisition was executed January 14, 2016 when NeuroVive acquired approximately 5 percent of the shares in Isomerase by payment in own shares.
NeuroVive is committed to the discovery and development of highly targeted drug candidates that can improve and support mitochondrial function in disease areas with a high medical need.
The completed holding in Isomerase is in line with NeuroVive's business strategy of value-adding partnerships with mitochondrial research and development players and commercial partners globally. The joint teams at NeuroVive and Isomerase are currently working on the research project NVP015 (complex I dysfunction) and several other discovery programs which all are progressing well.
NeuroVive CEO Erik Kinnman said: “We are very happy with how our collaboration with Isomerase has evolved throughout the years. We have together with Isomerase been able to efficiently advance our prioritized research program NVP015 and generate new compounds that currently are evaluated in experimental models."