Grifols to acquire Pharmalink's Xepol programme for post-polio syndrome

Jun 30 2010

- Agreement Marks Milestone in Pharmalink's Corporate Development

Pharmalink AB, today announced that it has closed its agreement with Grifols SA for the acquisition of Pharmalink's Xepol(R) programme for the treatment of post-polio syndrome (PPS). The parties had previously announced reaching an agreement whereby Grifols would acquire all know-how and global intellectual property rights related to the use of human immunoglobulin for the treatment of (PPS) - the concept at the heart of the Xepol programme.

The agreement covers acquisition of one of Pharmalink's wholly owned subsidiaries and includes inter alia US, EU and Japan patents for the treatment of PPS with immunoglobulins, a US Orphan Drug Designation (ODD) for the use of immunoglobulin for the treatment of PPS and documentation of a number of clinical studies carried out in the recent years.

Johan Haggblad, Managing director of Pharmalink AB said: "This agreement marks a significant milestone in Pharmalink's corporate development. In developing a concept originally devised by academic researchers at the Karolinska Institute and seeing it through to being acquired by a world class company we have demonstrated the considerable value creation made possible by the Pharmalink model. We are very happy to see Grifols, our long standing partner, acquire and develop the PPS indication and to have played a part in bringing forward a treatment for this underserved condition."

Grifols will develop the PPS product opportunity using the acquired assets. Pharmalink will assist in technology transfer and provide contact with its network of physicians and patient organizations. The purchase price is undisclosed but divided into an up-front payment and commercial milestone payments.

The PPS product opportunity is an important means to provide a treatment to a patient group largely suffering without effective medication and to expand sales of immunoglobulin in new patient segments.