Baxter’s Bioscience Business acquires biopharmaceutical company SuppreMol
Posted: 6 March 2015 | Baxter International Inc. / SuppreMol
Acquisition includes SuppreMol’s early-stage pipeline of protein therapeutics for autoimmune and allergic diseases…
Baxter International Inc. (NYSE:BAX) and SuppreMol GmbH have announced that Baxter has acquired SuppreMol for EUR 200 million (approximately USD 225 million) before working capital and other adjustments. SuppreMol is a privately held biopharmaceutical company based in Martinsried, Germany developing treatment options for autoimmune and allergic diseases.
The acquisition includes SuppreMol’s early-stage development portfolio of novel biologic immunoregulatory therapeutics for the treatment of autoimmune diseases, focusing on the modulation of Fc receptor signaling pathways, an immune target that could have broad applications in autoimmune disorders. In addition to the portfolio, Baxter also acquires and will continue to operate SuppreMol’s operations in Munich.
SuppreMol’s pipeline includes lead candidate SM101, an investigational immunoregulatory treatment that has completed Phase 2a studies in idiopathic thrombocytopenic purpura (ITP, a disorder causing low platelet levels) and systemic lupus erythematosus (SLE, a disorder in which the immune system attacks healthy tissue). SM101’s Phase 2a data, presented during the American College of Rheumatology’s 2014 annual meeting, showed a dose response in multiple endpoints among patients with SLE treated with either one of two different doses of SM101 for six months. The pipeline also includes technologies with potential therapeutic applications in other autoimmune diseases as well as IgE-mediated allergic diseases.
“SuppreMol’s portfolio of novel investigational treatments complements and builds upon our leading and differentiated immunology portfolio, offering the opportunity to expand into new areas with significant market potential and unmet medical needs in autoimmune diseases,” said Ludwig Hantson, Ph.D., president of Baxter BioScience.
“Matching therapeutic innovation with market needs is challenging for biotech companies. Working with Baxter, a global immunology leader, is the ideal setting for SuppreMol’s promising therapeutic projects to deliver on our most ambitious goal to treat important autoimmune diseases and severe allergies,” said Klaus Schollmeier, Ph.D., CEO of SuppreMol.
“SuppreMol has built a rare combination of leading science and promising therapeutic assets. We are proud that this important work will now continue at Baxter BioScience,” said Thomas Hecht, MD, Chairman of the Advisory Board of SuppreMol.