EffRx Pharmaceuticals develops and commercialise prescription drugs that target musculoskeletal and rare pathologies on European and global markets and has developed a key active agent, buffered soluble alendronate
Abiogen Pharma acquires EffRx Pharmaceuticals. (Credit: Adam Radosavljevic from Pixabay)
Italy-based Abiogen Pharma, a company focused on osteoarticular and bone metabolism diseases, has snapped up a 97.09% stake in Switzerland-based prescription drugs maker EffRx Pharmaceuticals for an undisclosed sum.
The agreement, which was closed after the conclusion of the acquisition of the German company Altamedics at the end of 2022, will help to further advance the company’s goal of internationalising, which was first set forward in 2015.
EffRx Pharmaceuticals develops and commercialise prescription drugs that target musculoskeletal and rare pathologies on European and global markets.
The company has developed a key active agent, buffered soluble alendronate, which belongs to a class of non-hormonal pharmaceuticals called bisphosphonates.
Abiogen has been distributing this medication in Italy since 2014 under a licence agreement.
Abiogen Pharma Chairman and CEO Massimo Di Martino said: “Besides strengthening our position in Italy, the acquisition of a majority interest in EffRx is in line with our growth model, serves as a launching pad for our international expansion and confirms our mission and commitment to bone health and rare diseases.”
Established in 2010, EffRx’s bisphosphonates are used in the treatment of osteoporosis condition. The company licenses and sell this drug under license agreements in 29 European and non-European nations.
EffRx Pharmaceuticals CEO Lorenzo Bosisio said: “Since its foundation, EffRx has shown steady growth, with a business model resting on two pillars: developing and distributing consolidated own products, as well as licensing, launching and marketing drugs for treating rare diseases.
“Our partnership with Abiogen Pharma opens up very attractive scenarios to further enhance our pipeline and we are confident that it will provide new and important development opportunities.”
Abiogen Pharma is an integrated company that works in the research and development, production of medicines with its own brand or under third-party contracts, and marketing of its own and licensed drugs.