BioCentury
ARTICLE | Company News

Opko, Pharmsynthez deal

May 6, 2013 7:00 AM UTC

Opko acquired about a 10% stake in Russian pharmaceutical company Pharmsynthez. Opko said it made the investment alongside of Russian nanotechnology fund Rusnano, which invested about RUR820 million ($26.2 million). Opko said it and Rusnano will make the investment in two-stages worth RUR1.9 billion ($60 million). Opko said the investment and the following partnership will expand commercial reach in Russian and Eastern European markets. Pharmsynthez's pipeline includes Virexxa, a progesterone receptor agonist in Phase II testing to treat endometrial cancer; MyeloXen, a liposomal vaccine comprised of peptides homologous to immunogenic sites of the myelin basic protein in Phase I/II testing to treat multiple sclerosis; and PulmoXen which is in preclinical testing to treat cystic fibrosis. Xenetic BioSciences plc (LSE:XEN; OTCBB:XENEF, London, U.K.) has rights to develop and commercialize MyeloXen and PulmoXen outside of Russia under a November 2009 deal. Xenetic was formerly known as Lipoxen plc (see BioCentury, Nov. 23, 2009). ...