The deal is on track to close by the end of the year.
NexMed will acquire Bio-Quant. Upon closing of the transaction, which is expected before the end of the year, Bio-Quant will become a wholly owned subsidiary of NexMed.
“Through this transaction, NexMed acquires a revenue-generating, cash flow positive business, which has grown over 250% in the past five years and is continuing to grow at present,” says Vivian Liu, who is transitioning from CEO to evp of NexMed. “Moreover, we will gain preclinical capabilities, add valuable licensing expertise, and be able to leverage Bio-Quant’s existing relationships with key pharmaceutical companies—all of which will aid in the continued development and the ultimate commercialization of our products under development.”
Bio-Quant is a CRO for in vitro and in vivo contract drug discovery and preclinical development services. The company specializes in oncology, inflammation, immunology, and metabolic diseases, including diabetes.
NexMed’s pipeline includes a late-stage terbinafine treatment for onychomycosis, a late-stage alprostadil treatment for erectile dysfunction, a Phase II alprostadil treatment for female sexual arousal disorder, and an early-stage treatment for psoriasis.