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news.Cyclacel Pharmaceuticals has agreed to buy Align Pharmaceuticals and Align Holdings, collectively known as Align, for between $3.3 million and $3.8 million.
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The acquisition will be complementary to Cyclacel’s oncology/hematology products in development, according to the company, and is part of Cyclacel’s strategy to build a diversified biopharmaceutical business.
Cyclacel’s development pipeline includes three targeted, small molecule drug candidates in clinical trials in oncology patients, a deep preclinical pipeline and a productive drug discovery engine.
Spiro Rombotis, president and CEO of Cyclacel, said: “Align provides an initial commercial base for building a diversified biopharmaceutical business focused on leading edge therapeutic management of patients with cancer and other serious disorders and enhances the value of our existing oncology and hematology assets.
“In addition to an experienced team led by Bill Collins, a veteran of GlaxoSmithKline, Align contributes three marketed products that provide an immediate revenue opportunity for supporting our development programs.”