Protherics has acquired MacroMed in a $25-million all-stock acquisition. Protherics thus gains the company’s lead product, OncoGel, a sustained-release formulation of paclitaxel being developed for local administration in the treatment of esophageal and brain cancer. OncoGel is currently in Phase II trials.
"The merger is very significant for MacroMed because it helps ensure that OncoGel progresses toward commercialization," says MacroMed CEO, Thomas Bergmann.
Protherics plans to continue MacroMed operations at the current West Valley City, Ut facility. The acquisition is expected to complete in early 2007.