Abiogen Acquires Effrx
May 30, 2023
Rare Daily Staff
Italy-based Abiogen Pharma, a company focused on osteoarticular and bone metabolism diseases, has acquired a 97 percent stake in EffRx Pharmaceuticals, a Swiss company that develops and markets prescription drugs for musculoskeletal and rare pathologies in 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. Abiogen Pharma has distributed the medication in Italy since 2014 under a license agreement.
The deal follows Abiogen’s recent acquisition of German company Altamedics at the end of 2022 and is intended to consolidate the company’s international strategy that started in 2015.
“Besides strengthening our position in Italy, the acquisition of a majority interest in EffRx is in line with our growth model and serves as a launching pad for our international expansion and confirms our mission and commitment to bone health and rare diseases,” said Massimo Di Martino, chairman and CEO of Abiogen Pharma.
Abiogen Pharma’s 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.
“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,” said Lorenzo Bisisio, CEO of EffRx Pharmaceuticals. “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.”
Photo: Lorenzo Bisisio, CEO of EffRx Pharmaceuticals
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