BioCentury
ARTICLE | Company News

Protherics, Advanced In Vitro Cell Technologies S.L., Glenveigh Pharmaceuticals LLC, MacroMed deal

December 11, 2006 8:00 AM UTC

PTI acquired drug delivery company MacroMed for £12.7 million ($25.1 million) in stock. The deal gives PTI OncoGel, a sustained-release formulation of paclitaxel that is in Phase IIa testing to treat dysphagia (difficulty swallowing) in esophageal cancer patients.

Separately, PTI plans to acquire Glenveigh's ovine polyclonal antibody fragments for preeclampsia and eclampsia for £5 million ($9.9 million) in cash and stock. PTI also will assume £800,000 ($1.6 million) in debt and Glenveigh will be eligible for milestones and royalties. Glenveigh's Digibind anti- digoxin polyclonal antibody fragment is in Phase IIb testing with GlaxoSmithKline plc (LSE:GSK; GSK, London, U.K.) for severe preeclampsia, with data expected in the second half of 2007. PTI's Digifab formulation of anti-digoxin polyclonal antibody fragments is approved in the U.S. to treat digoxin toxicity. ...