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Strakan to merge with ProSkelia

June 8, 2004 7:00 AM UTC

Bone and skin diseases company Strakan (Galashiels, U.K.) will merge with musculoskeletal company ProSkelia (Paris, France) to form a specialty pharma company with an R&D capability and a European sales force. Strakan will offer 134.8 million shares for all of ProSkelia's shares in the 50/50 merger.

ProSkelia has three compounds in Phase II development including PSK 3987 combined trimegestone-estradiol patch hormone replacement therapy, PSK 3841 topical anti-androgen for alopecia and/or acne, and PSK 3471 selective estrogen receptor modulator (SERM) to prevent and treat osteoporosis. ProSkelia also has small molecule discovery research programs for selective estrogen receptor antagonists, glucocorticoid receptor modulators and integrin antagonists. Strakan has four programs in Phase II studies including a topical nitric oxide to treat onychomycosis, an anti-emetic patch and an oral estradiol-glucoside. ...