Cadila Pharmaceuticals Sweden AB has announced the acquisition of Swedish BioChromix NewCo.
BioChromix NewCo was founded in 2013, based the technology previously developed by BioChromix AB and BioChromix Pharma AB, to explore a class of conjugated heteocyclic compounds for the treatment of protein misfolding.
Cadila Pharmaceuticals will continue to develop the preclinical and clinical development of BioChromix NewCo’s drug candidates. Under the agreement, the development will be based on milestones and be carried out at Cadila Pharmaceutical’s research facility in Ahmedabad, India.
“The acquisition enables taking the project, which was previously conducted by BioChromix NewCo, onwards with substancial resources. Cadila’s expertise within drug development, together with BioChromix NewCo’s scientific knowledge in their area, provides an excellent platform for the continued development of these unique drug candidates. Given that the development becomes successful possibilities are created for entering valuable commercial agreements in important geographic markets such as the United States and Europe,” said Dr. Peter Åsberg, former CEO of BioChromix NewCo.
