Actelion buys option to acquire privately-held Trophos; posts strong 2nd-qtr 2010 results

Switzerland-based Actelion, Europe's largest biotechnology firm, has entered into a binding agreement to acquire privately-held Trophos SA, paying 10 million euros ($12.9 million for the option. The Swiss firm this morning also posted strong second-quarter 2010 financial results.

Marseille, France-based Trophos' lead compound olesoxime has completed enrollment into a Phase III study in amyotrophic lateral sclerosis (ALS), an orphan disease also known as Lou Gehrig's disease. This study is expected to report data by the end of 2011; at this time Actelion may exercise the option for an acquisition price between 125 million euros and 195 million euros in cash, contingent on different regulatory approvals and other clinical progress of Trophos' pipeline.

Simon Buckingham, Actelion's president, global corporate and business development, stated: "Trophos has done an excellent job to enroll more than 500 ALS patients into a well-designed pivotal study. Once study results are available, Actelion is ideally positioned to leverage these achievements with our proven global regulatory and marketing expertise in the area of orphan drugs."