UK-based Circassia invests approximately $377 million on Aerocrine and Prosonix, two companies focused on asthma.
Circassia Pharmaceuticals, a company focused on immunotherapies for the treatment of allergies, announced on May 15, 2015 that it agreed to buy Aerocrine and Prosonix for £239 million, or approximately US$377 million, according to an article from Reuters. The two companies, which are focused on developing treatments for asthma, will receive separate payments of approximately US$219 million (Aerocrine) and approximately US$158 million (Prosonix).
"Aerocrine has products that they sell to allergy asthma specialists, the very customers we want to sell our allergy products to, so that's a really good strategic fit. Prosonix has near-term products that help us create an allergy-asthma specialist pharmaceutical company,” said Steve Harris, CEO of Circassia, in an interview with Reuters.
Stay at the forefront of biopharmaceutical innovation—subscribe to BioPharm International for expert insights on drug development, manufacturing, compliance, and more.