European specialty pharma company Axcan will acquire Mpex Pharmaceuticals and its lead candidate, Aeroquin levofloxacin inhalation solution for the treatment of Pseudomonas aeruginosa infections in CF patients, which is currently in Phase 3 trials. Axcan plans to complete development of Aeroquin itself and spin off Mpex’s other assets into a separate company.
Mpex President and CEO Daniel Burgess said in the company’s announcement, “Axcan has a long history of developing and commercializing pharmaceutical products for the cystic fibrosis community, as evidenced most recently by ZENPEP; We look forward to working with the dedicated team at Axcan to help bring this potentially important new treatment option to patients with CF.”
Mpex personnel working on Aeroquin will join Axcan, while other employees will become part of the new spin-off. Financial terms of the deal were not disclosed.
Read the Mpex press release.
