Imaxio Acquires Orphan Drug Indicated for a Congenital Metabolic Disease
News Jan 22, 2013
Imaxio has announces the acquisition of Trolovol(R) (D-penicillamine), a drug for human usage indicated for an orphan disease affecting around 1,200 patients in France. This product previously belonged to D&A Pharma and the transaction was facilitated by CMC Consulting. The financial terms of the deal have not been disclosed.
This purchase will allow Imaxio to generate almost EUR 500,000 of additional revenue in 2013, representing an increase of 20 per cent in its turnover compared to 2012. This revenue will be re-invested in research and development activities relating to its proprietary technology for reengineering antigens, known as IMX313. This technology is used to significantly increase immunogenicity and thus the efficacy of vaccines in which it is used.
This acquisition also fits in with Imaxio’s strategy of consolidating its pharmaceutical range. The company currently distributes Spirolept(R), a human vaccine indicated for preventing a professional infectious disease, which became part of Imaxio’s portfolio in 2009 following the acquisition of the company Axcell Biotechnologies. In 2012, sales of Spirolept(R) totalled almost EUR two million and generated a turnover of EUR 2.5 million.
“We are delighted to have finalised this transaction, which is a perfect fit for our external growth strategy,” said Alexandre Le Vert, managing director of Imaxio. “With the revenue generated by the sales of Trolovol(R), Imaxio will have the additional means necessary to advance in the clinical field, in particular with regard to its highly promising IMX313 technology for vaccines. Over the next three years, there are plans for Phase I/IIa clinical trials in indications for tuberculosis, influenza and staphylococcus aureus infections."
In the medium term, Imaxio plans to acquire further new products and to licence its IMX313 immunogenic technology for new indications in human and animal healthcare.