Switzerland's Actelion has paid €10 million for an exclusive option to acquire France's Trophos, a private development company whose lead drug, olesoxime, is in Phase III testing as a therapy for Lou Gehrig's disease. Enrollment for the study has been completed, and data are expected at the end of 2011, at which time Actelion could bid between €125 and €195 million in cash for Trophos. The value of the deal will be determined on regulatory approvals and other clinical progress of Trophos' pipeline.
The companies also inked a deal that gives Actelion access to Trophos' CNS assay technology and compound library. Financials on that agreement were not disclosed.
"Since its inception, Trophos has made significant progress in turning its key expertise in neurodegenerative disorders and orphan diseases into achievements that include advancing our lead compound olesoxime into late stage clinical development," says Trophos CEO Damian Marron in a statement. "The development of olesoxime has benefited from significant support from patient communities, clinical investigators and the European Union, including Trophos spearheading an EU-funded consortium dedicated to improving the treatment of ALS."
- here's Actelion's release
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