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MDCO acquires ProFibrix

The Medicines Co. exercised its option to acquire all outstanding shares of ProFibrix

August 6, 2013 12:00 AM UTC

The Medicines Co. (NASDAQ:MDCO) exercised its option to acquire all outstanding shares of hematology company ProFibrix B.V. (Leiden, the Netherlands) for $90 million in cash based on a review of data from the Phase III FINISH-3 trial evaluating ProFibrix's Fibrocaps to treat mild to moderate surgical bleeding. The data showed Fibrocaps plus a gelatin sponge met all primary and secondary hemostasis efficacy endpoints vs. a gelatin sponge alone. In June, The Medicines Co. paid $10 million in cash for the option, which was exercisable pending a "satisfactory review" of data from the FINISH-3 trial. ProFibrix shareholders are also eligible for up to $140 million in milestones under the deal (see BioCentury Extra, June 4).

The Medicines Co. said it plans to submit an MAA to EMA in 4Q13 and a BLA to FDA in 1Q14 for Fibrocaps. Additionally, the company said applications are "underway" for U.S. and European approval of a dry powder spray delivery device that was developed by ProFibrix for application of Fibrocaps, a dry powder topical fibrin sealant composed of fibrinogen and thrombin. ...