Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 Cephalon Signs Option To Acquire BioAssets | Contract Pharma

What are you searching for?

Sign in
Breaking News

Cephalon Signs Option To Acquire BioAssets

Cephalon, Inc. and BioAssets Development Corp. (BDC) have signed an agreement that will provide Cephalon with an option to acquire BDC.

Author Image

By: Tim Wright

Editor-in-Chief, Contract Pharma

Cephalon, Inc. and BioAssets Development Corp. (BDC) have signed an agreement that will provide Cephalon with an option to acquire BDC. Cephalon will pay $30 million upfront and an additional payment if it exercises its option. BDC stockholders could also receive additional future payments related to regulatory and sales milestones. The agreement is subject to customary closing conditions.

BDC, a privately held biopharmaceutical company, is currently conducting a Phase II placebo-controlled proof of concept study with the tumor necrosis factor (TNF) inhibitor, etanercept, epidurally administered to patients with sciatica. Sciatica is a neuropathic inflammatory pain condition that occurs when the sciatic nerve is compressed, injured or irritated. Results are expected to be available in 2H10. BDC has secured rights for use of TNF inhibitors for sciatic pain in patients with intervertebral disk herniation, as well as other spinal disorders.

“BioAssets offers an estate of intellectual property and scientific expertise that will allow us to evaluate our own domain antibody tumor necrosis factor inhibitor, CEP-37247 (formerly known as ART-621), for the treatment of sciatica,” said Frank Baldino, Jr., Ph.D. chairman and chief executive officer of Cephalon. “Combining these two innovations helps fulfill our strategy to address unmet patient needs, while focusing on specialty physicians.”

“Development of an improved non-surgical therapy for sciatica presents a pressing unmet medical need and a potentially significant commercial opportunity,” commented James Gorman, M.D., Ph.D., chief executive officer of BioAssets. “Cephalon combines an innovative TNF inhibitor pipeline with a well established pain therapeutic franchise. I believe these capabilities uniquely position Cephalon to develop and commercialize a novel biologic therapy for these patients.”

Add us as a preferred source on Google

Get the latest Contract Pharma news, insights and analysis in your Google Search and AI experiences.

Add Contract Pharma as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Contract Pharma Newsletters