Finland's BioTie Therapies has agreed to purchase German's Elbion, forming a company that will focus on CNS disorders and inflammatory diseases. BioTie gains ELB353, a Phase I anti-inflammatory drug, Buprenorphine Depot for opioid dependence, and access to Elbion's drug discovery platform focused on central nervous system and inflammatory diseases.
"Bringing together the outstanding pharmaceutical development capabilities and strong clinical pipelines of both companies will create a European leader in the CNS and inflammation market," said Mr. Juha Jouhki, the Chairman of Biotie. Mr Luc Philips, the Chairman of Elbion NV stated that "this business combination is a unique opportunity to combine complementary programs and capabilities with sufficient financial means to reach key value inflection points."
- see BioTie's release