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news.Cycle Pharmaceuticals has completed the acquisition of Banner Life Sciences, including BAFIERTAM (monomethyl fumarate) product, a US Food and Drug Administration (FDA)-approved treatment for relapsing forms of multiple sclerosis (MS) in the adult population.
The acquisition involves the inclusion of multiple sclerosis therapy, BAFIERTAM. Credit: Robina Weermeijer on Unsplash.
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BAFIERTAM will join TASCENSO ODT (fingolimod), Cycle’s other branded MS treatment. Both these therapies will be supported by Cycle’s hub programme, Cycle Vita.
The company noted that, during the transition time, BAFIERTAM patients will continue to receive support from Banner’s established network.
Cycle Pharmaceuticals CEO James Harrison said: “We are delighted to strengthen Cycle’s offer to the MS community by adding BAFIERTAM to our MS product portfolio. We will be able to support more patients via our best-in-class patient support hub Cycle Vita, as well as giving patients full confidence in the medicines they are using to manage their MS.”
Cycle’s commitment to providing high-quality medicines and support is said to be underscored by this acquisition, funded through cash reserves.
The move comes amid heightened scrutiny over the quality of generic medicines in neurology, a concern highlighted by Professor Darin Okuda from UT Southwestern Medical Center.
Ondra acted as the exclusive financial advisor to Cycle, with Goodwin Procter providing legal counsel. Banner’s financial advice came from Leerink Partners, while Skadden, Arps, Slate, Meagher & Flom offered legal guidance.
Indicated for clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease in adults, BAFIERTAM’s efficacy and safety in paediatric patients remain unestablished.
Founded in 2012, Cycle Pharmaceuticals claims to focus on delivering treatments and support for rare diseases, including metabolic, immunological, and neurological genetic conditions.
With a particular emphasis on MS, Cycle operates from its headquarters in Cambridge, UK, and has an office in Boston, Massachusetts.
In the US, MS affects an estimated one million people, with around 200 new cases diagnosed each week. The majority of these cases are the relapsing-remitting form, which can progress to a more severe condition without treatment.
