Transaction supports Biovitrum’s intent to cover specialty-care and protein-based drugs.
Biovitrum decided to spin out its small molecule R&D subsidiary, Cambridge Biotechnology (CBT), and a range of primary care projects. Biovitrum will focus on specialist pharmaceuticals and protein therapeutics.
CBT’s pipeline includes a Phase II neuropathic pain project and obesity candidates in Phase II and Phase I trials. The company also has a leptin mimetic preclinical drug in obesity as well as a pain and inflammation preclinical program and four discovery programs in pain and inflammation.
Biovitrum, on the other hand, retains hemophilia and fat malabsorption clinical programs. Both are in mid-stage development. The firm reported net revenues from January to September 2008 of SEK 826.3 million, or $99.78 million. Its portfolio has therapies for oncology, rheumatoid arthritis, hemophilia, anticoagulation, and calcium hemostasis, including three biologics that it recently bought from Amgen for $150 million.