Imaxio acquires Trolovol
Biopharmaceutical Company specializing in vaccines and genomics namely Imaxio announced the acquisition of Trolovol (D-penicillamine), a drug for human usage indicated for an orphan disease affecting around 1,200 patients in France.
This product previously belonged to D&A Pharma. The transaction was facilitated by CMC Consulting. The financial terms of the deal have yet to be finalized.
The acquisition will allow Imaxio to generate almost EUR 500,000 of additional revenue in 2013. This represents an increase of 20% in its turnover compared with 2012.
The revenue will be re-invested in research and development activities relating to its proprietary technology for reengineering antigens, known as IMX313. This technology is used to significantly increase immunogenicity and thus the efficacy of vaccines in which it is used.
This acquisition also fits in with Imaxio’s strategy of consolidating its pharmaceutical range. The company distributes Spirolept®, a human vaccine indicated to prevent a professional infectious diesease, which became part of Imaxio’s portfolio in 2009 post acquisition of the company Axcell Biotechnologies.
Alexandre Le Vert, Managing Director of Imaxio, said, “We are delighted to have finalized this transaction, which is a perfect fit for our external growth strategy.” He also said, “With the revenue generated by the sales of Trolovol(R), Imaxio will have the additional means necessary to advance in the clinical field, in particular with regard to its highly promising IMX313 technology for vaccines.” “Over the next three years, there are plans for Phase I/IIa clinical trials in indications for tuberculosis, influenza and staphylococcus aureus infections," he stated.
It also plans to acquire further new products and to license its IMX313 immunogenic technology for new indications in human and animal healthcare. Imaxio SA is a biopharmaceutical company specialized in the areas of vaccines and genomics.
The company is involved in developing individually and with partners recombinant vaccines with improved effectiveness for applications in both human and animal health.
Imaxio was created through the merger between Diagnogene and Avidis, a spin-off from the Medical Research Council and Cambridge University in UK.