Abiogen Pharma, a Pisa, Italy-based company focused on osteoarticular and bone metabolism diseases, acquired a 97,09% stake in EffRx Pharmaceuticals, a Freienbach, Switzerland-based company that develops and markets prescription drugs targeted in particular to musculoskeletal and rare pathologies on European and international markets.
The amount of the deal was not disclosed.
With the acquisition, Abiogen Pharma will consolidate the internationalization strategy that started back in 2015. The key active agent developed by EffRx is buffered soluble alendronate which belongs to a class of non-hormonal pharmaceuticals known as bisphosphonates. This medication has been distributed in Italy by Abiogen Pharma since 2014 under a licence agreement.
Established in 2010 and led by Lorenzo Bosisio, CEO, EffRx Pharmaceuticals develops and commercializes drugs, targeted in particular to musculoskeletal and rare diseases. Its product range includes buffered soluble alendronate, a key agent from the class of bisphosphonates used in the treatment of osteoporosis. The company licenses and distributes this drug under license agreements in 29 European and non-European countries.
Led by Massimo Di Martino, CEO, Abiogen Pharma spans across several integrated areas: research and development, manufacturing of pharmaceuticals with its own brand or under third-party contracts, and marketing of own and licensed drugs. Its target therapeutic areas include bone metabolism, pain treatment, as well as respiratory, metabolic (diabetes) and dermatological disorders. In 2022, Abiogen Pharma opened its first foreign subsidiary via the acquisition of the German company Altamedics.
With 188 million euros in revenue (2022) and 439 employees, it ranks among the 15 largest Italian pharmaceutical companies.
FinSMEs
29/05/2023