The agreement allows Enterologics to take over a probiotic product E. coli M17 or Probactrix which is being developed as a biologic drug under an active investigational new drug (IND) application as a treatment for pouchitis-related indication.
With this acquisition, Enterologics will be the sole owner of BioBalance’s portfolio of intellectual property and regulatory filings.
The formal development of E. coli M17 could begin quickly once the deal closes.
Enterologics president Bob Hoerr said E. coli M17 coupled with the new formulation technology they are developing with Universal Stabilization Technologies provides them with a solid platform for their first probiotic biologic drug product.
"The company plans to reinitiate manufacturing with a partner as soon as feasible after closing. When cGMP production and the necessary financing are in place, the Company intends to begin clinical trials under the IND," Hoerr said.