A privately owned Italian pharmacy called Chiesi Farmaceutici bought all outstanding shares and assets from the asthma-focused biotech, Atopix Therapeutics. This deal puts Chiesi against an established eosinophilic asthma market. A market which includes targeted biologics such as GlaxoSmithKline’s Nucala and Teva’s Cinqair/Cinqaero, both who are approved worldwide.
Here are the details:
- Buying all outstanding shares and assets was a deal worth over $75 million ($80 million) if all regulatory and commercial milestones are hit.
- Chiesi will add an experimental oral treatment for severe eosinophilic asthma currently in Phase 2, along with a “back-up candidate” coming out of a Phase 1 safety study.
- A report done by Visiongain states that the global asthma and COPD market could be worth more than $33 billion in 2016.
- Around 40% of asthma patients are affected by Eosinophilic Asthma.