Acton Pharmaceuticals, Inc. to be Acquired by Meda for up to $200 Million
News Sep 06, 2013
The proposed transaction is subject to customary regulatory approvals and standard closing provisions.
Under the terms of the agreement, Meda will acquire 100% of Acton’s shares for $135 million plus $10 million in a contingent, near-term development milestone. Acton will also receive certain sales-based milestones, which may bring the total potential acquisition value up to $200 million.
Acton is focused on the development of respiratory medicine and recently received U.S. Food and Drug Administration approval for AEROSPAN™ (flunisolide), for the treatment of asthma. AEROSPAN is a HFA-propelled inhaled corticosteroid (ICS) and is the only approved HFA inhaler in its class to incorporate a built-in spacer device, which assists in the delivery of the medicine to the lungs. The value of the U.S. single-entity ICS market is approaching $2 billion with more than 12 million prescriptions written each year.
AEROSPAN Inhalation Aerosol is an orally inhaled corticosteroid indicated for the maintenance treatment of asthma as prophylactic therapy in adult and pediatric patients 6 years of age and older.
Acton was founded in March 2008 by John Simon, Chief Executive Officer and Daniel Kreisler, President & Chief Operating Officer of Acton.
"Through this transaction with Meda, AEROSPAN will now be commercialized by a company with one of the leading respiratory focused sales forces in the U.S.,” commented Daniel Kreisler. “We strongly believe this will accelerate the prescribing of this unique inhaled steroid product so we can achieve our goal of making AEROSPAN one of the leading therapies in the $2 billion U.S. inhaled steroid market.”
John Simon continued, “We are excited to enter into this agreement with Meda, a leading global pharmaceutical company. Meda’s experience marketing respiratory products combined with their significant track record of success makes them extremely well-suited to launch AEROSPAN to respiratory and pediatric physicians in the U.S.”
Scott Carter, a partner at Sequoia Capital and a member of Acton’s Board of Directors said, “We are very fortunate to partner with Acton Pharmaceuticals. Sequoia Capital recognizes and applauds the excellence of this highly experienced management team who has driven the company to tremendous success.”
Easily Automate PK Assays for Human IgG Drugs in Preclinical SpeciesNews
At AAPS NBC event, Lumigen produced a poster summarizing the use of their pipetting robot, Andrew which can measure IgG drug concentration in a pre-clinical setting.READ MORE
Could This Be a "Silver Bullet" for Preventing and Treating Colon Cancer?News
A team of scientists targeted the gene CtBP with a drug known as HIPP (2-hydroxy-imino phenylpyruvic acid) and were able to reduce the development of pre-cancerous polyps by half.READ MORE
Ingestible Drug-Delivery Materials May Improve Patient Treatment ComplianceNews
Hydrogel-based capsules could expand and reside in the GI tract for days, slowly releasing medication.READ MORE
Comments | 0 ADD COMMENT
6th Edition of International Conference on Pharmacognosy and Medicinal Plants
Apr 16 - Apr 17, 2018
International Conference and Exhibition on Nanomedicine and Nanotechnology
Nov 23 - Nov 24, 2017