Baxter International Inc. announced that it has agreed to acquire German biopharmaceutical company SuppreMol, expanding its portfolio of drugs for autoimmune diseases.
Baxter is paying $225 million before working capital and other adjustments for the privately-held company, gaining SuppreMol’s early-stage development portfolio of novel biologic immunoregulatory therapeutics for treatment of autoimmune diseases, focusing on the modulation of Fc receptor signaling pathways, an immune target that could have broad applications in autoimmune disorders. Additionally, Baxter will acquire and continue to operate SuppreMol’s operations in Munich.
Last year, Baxter announced its plans of splitting the company to create two separate, independent global healthcare companies – one focused on innovative biopharmaceuticals and the other on life-saving medical products. The split is scheduled for later this year.
“SuppreMol’s portfolio of novel investigational treatments complements and builds upon our leading and differentiated immunology portfolio, offering the opportunity to expand into new areas with significant market potential and unmet medical needs in autoimmune diseases,” said Ludwig Hantson, PhD, president of Baxter BioScience.
SuppreMol’s pipeline consists of its lead candidate SM101, an investigational immunoregulatory treatment that has completed Phase IIa studies in idiopathic thrombocytopenic purpura (ITP) and systemic lupus erythematosus (SLE). The pipeline also includes technologies with potential therapeutic applications in other autoimmune diseases, as well as IgE-mediated allergic diseases.
“Matching therapeutic innovation with market needs is challenging for biotech companies. Working with Baxter, a global immunology leader, is the ideal setting for SuppreMol’s promising therapeutic projects to deliver on our most ambitious goal to treat important autoimmune diseases and severe allergies,” said Klaus Shollmeier, PhD, CEO of SuppreMol.
Source: Baxter International Inc.
Last updated: 3/4/15; 1:00pm EST