Biotec Pharmacon, Sana Pharma A/S deal

Biotec Pharmacon sold its Immunocorp Consumer Health A/S subsidiary to supplement company Sana for NOK31.5 million ($5.5 million). Immunocorp markets dietary supplements and had revenues of NOK22 million ($3.8 million) for the nine months ended Sept. 30, 2009. Creo Advisors A/S advised Biotec Pharmacon.

Biotec Pharmacon said the move allows it to focus on its core pharmaceuticals and marine chemicals businesses. Biotec Pharmacon is currently reviewing data for its SBG, Soluble Beta Glucan, which missed the primary endpoint of two Phase III trials to treat diabetic foot ulcers in 2009. The soluble beta-1,3/1,6-glucan is also in Phase III testing for oral mucositis. ...