The company reportedly paid $225 million
Baxter International has announced that it has acquired SuppreMol for approximately $225 million (EUR 200 million) before working capital and other adjustments. SuppreMol, a germany-based biopharma firm, develops treatment 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. 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).
''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 Dr Ludwig Hantson, 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 Dr Klaus Schollmeier, CEO of SuppreMol.