Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Drug development services provider Ergomed has announced the proposed acquisition of University of Leicester spin-out firm Haemostatix for about £28m.
Subscribe to our email newsletter
Based at BioCity, Nottingham, UK, Haemostatix is developing a pipeline of topical products for surgical bleeding.
The company has developed a platform that utilizes synthetic peptide-based haemostats to stop bleeding in and after operations.
Haemostatix two lead products are PeproStat, liquid hemostat that is applied to wounds for controlling bleeding during surgery.
The other product, ReadyFlow, at the late pre-clinical stage, is a blood-free transparent haemostatic gel that can be applied to irregular bleeds.
Peprostat is expected to begin a phase II trial next year and ReadyFlow will move into phase I in 2018.
Ergomed will pay an initial consideration of £8m with milestone and sales based payments of up to £20m.
Ergomed CEO Miroslav Reljanovic said: "The Haemostatix acquisition provides an opportunity to advance the Co-development part of our growth strategy through the development of our first wholly-owned development programme.
"We have confidence from the current pre-clinical and clinical data that the Haemostatix technology works as an effective haemostat."
Ergomed offers clinical development, trial management and pharmacovigilance services to more than 80 clients ranging from top 10 pharmaceutical firms to small and mid-sized drug development companies.