Deal Watch: Nanotech Formulations Of Doxorubicin Highlight Recent Deal-Making
France’s BioAlliance adds to its oncology portfolio through an all-equity merger with Topotarget; NanoSmart and NanoValent team up on an ovarian cancer program; Mylan licenses two respiratory therapies from Prosonix; and Actavis adds to its specialty generics portfolio with products from Akorn.
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CEO Raj Rai calls the transaction a “transformative event” for Akorn that will be instantly accretive and produce between $15 million and $20 million of run-rate synergies within 12 months. Acquisition of Hi-Tech adds prescription and OTC products, 18 filed ANDAs and increased manufacturing capability.
Prosonix receives an extra $9 million for its Series B round as it changes business strategy from contract research to the development of generic respiratory products, based on a novel particle-engineering technology for inhaled powders.
Pipeline Watch is a weekly snapshot of selected late-stage clinical trial events and approvals announced by pharmaceutical and biotech companies at medical and industry conferences, in financial and company presentations, and in company releases and statements.