PISA, Italy, May 29, 2023 /PRNewswire/ -- Abiogen Pharma
S.p.A., Italian leading company in the field of osteoarticular and
bone metabolism diseases, is pleased to announce the acquisition of
a 97,09% stake in EffRx Pharmaceuticals SA, a Swiss company that
develops and markets prescription drugs targeted in particular to
musculoskeletal and rare pathologies on European and international
markets. The key active agent developed by EffRx is buffered
soluble alendronate which belongs to a class of non-hormonal
pharmaceuticals known as bisphosphonates. This medication has been
distributed in Italy by Abiogen
Pharma since 2014 under a licence agreement.
This deal, completed just a few months after the acquisition of
the German company Altamedics at the end of 2022, is intended to
consolidate the internationalization strategy that started back in
2015 and is a further step towards achieving an ambitious goal:
"Besides strengthening our position in Italy – explained Massimo Di Martino, Chairman and CEO of
Abiogen Pharma – 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".
In the light of the clear points of contact between the scopes
of research and activity of EffRx and Abiogen Pharma,
Prisca Di Martino,
International Business Unit Head at Abiogen Pharma,
commented: "We are working towards developing Abiogen into
an international business, without losing sight of our nature as an
Italian and family-run undertaking, and we are pursuing this target
by entering into agreements with foreign businesses that share our
goals and therapeutic areas. Through the acquisition of a majority
stake in EffRx, the synergies between our respective expertise and
distribution networks will no doubt be the basis for strengthening
our international expansion".
Lorenzo Bosisio, CEO of
EffRx Pharmaceuticals, concluded: "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".
About Abiogen Pharma S.p.A. -- Abiogen Pharma is
headquartered in Pisa, Italy.
Since 1997, its business spans across several integrated areas:
research and development, manufacturing of pharmaceuticals with its
own brand or under third-party contracts, and marketing of own and
licensed drugs. Its target therapeutic areas include bone
metabolism, pain treatment, as well as respiratory, metabolic
(diabetes) and dermatological disorders. In 2022, Abiogen Pharma
opened its first foreign subsidiary via the acquisition of the
German company Altamedics. With 188 million
euros in revenue (2022) and 439 employees, it ranks among
the 15 largest Italian pharmaceutical companies.
About EffRx Pharmaceuticals SA -- EffRx was established
in 2010 and is headquartered in Freienbach, Switzerland. The company develops and
commercializes drugs, targeted in particular to musculoskeletal and
rare diseases. Its product range includes buffered soluble
alendronate, a key agent from the class of bisphosphonates used in
the treatment of osteoporosis. EffRx Pharmaceuticals licenses and
distributes this drug under license agreements in 29 European and
non-European countries.
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SOURCE Abiogen Pharma