Italy-based Abiogen Pharma has announced the acquisition of a 97.09% stake in Switzerland-based EffRx Pharmaceuticals.
Abiogen Pharma’s business spans across many integrated aspects: research and development, manufacturing of pharmaceuticals under its own brand or third-party contracts, and marketing of its own and licensed drugs.
Among its target therapeutic areas include bone metabolism, pain treatment, as well as respiratory, metabolic (diabetes) and dermatological disorders.
EffRx Pharmaceuticals develops and sells prescription drugs focused in particular to musculoskeletal and rare pathologies in European and international markets.
Its main active agent is buffered soluble alendronate, which belongs to a class of non-hormonal pharmaceuticals, called as bisphosphonates, used in the treatment of osteoporosis.
Abiogen Pharma has been distributing this medication in Italy since 2014 under a licence deal.
The acquisition deal comes just after a few months following the purchase of the German company Altamedics at the end of last year.
This deal will help Abiogen to consolidate its internationalisation strategy that commenced back in 2015.
Abiogen Pharma chairman and CEO Massimo Di Martino said: “Besides strengthening our position in Italy, the acquisition of a majority interest in EffRx is in line with our growth model, serves as a launching pad for our international expansion and confirms our mission and commitment to bone health and rare diseases.”
EffRx Pharmaceuticals CEO Lorenzo Bosisio said: “Since its foundation, EffRx has shown steady growth, with a business model resting on two pillars: developing and distributing consolidated own products, as well as licensing, launching and marketing drugs for treating rare diseases.
“Our partnership with Abiogen Pharma opens up very attractive scenarios to further enhance our pipeline and we are confident that it will provide new and important development opportunities.”