Endo to buy RxKinetic for $20M up front

Endo Pharmaceuticals has agreed to buy Boulder, CO-based RxKinetic for $20 million up front and up to $95 million in milestones. RxKinetic is developing a therapy to treat oral mucositis-mouth sores-in cancer patients. The developer wrapped a Phase II trial of RK-0202 in March and announced positive data that would allow it to push into a late-stage trial. The company, which has 21 employees, will continue as a subsidiary of Endo.

"The acquisition of RxKinetix is consistent with our strategic goal of expanding into therapeutic areas that are complementary to pain," said Peter A. Lankau, president and chief executive officer of Endo.

- read the report on the buyout from The Rocky Mountain News