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Baxter has bought SuppreMol, a German biopharmaceutical company that focuses on autoimmune treatments, for €200 million ($225 million USD).
Baxter International has agreed to buy SuppreMol, a German biopharmaceutical company specializing in autoimmune treatments, for €200 million ($225 million USD). Under the terms of the agreement, Baxter gains the rights to SuppreMol's early-stage drug portfolio, including its SM101 immunoregulatory treatment, as well as SuppreMol's Munich operations.
According to The Wall Street Journal, this acquisition is part of the effort to focus its business before Baxter's biopharmaceutical company Baxalta launches in mid-2015. A statement from Baxter in September 2014 stated that the new company's pipeline would include therapies for bleeding disorders and immunology.
According to a press release from Baxter, SM101 is an investigational immunoregulatory treatment that completed Phase IIa studies in idiopathic thrombocytopenic purpura, a disorder that causes low platelet levels, and systemic lupus erythematosus, an immune disorder that attacks healthy tissue. SuppreMol's pipeline also includes potential therapies for other autoimmune disorders including IgE-mediated allergic diseases.
“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 Ludwig Hantson, PhD, president of Baxter BioScience, in a press release.