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.
SOURCE Abiogen Pharma
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