Almirall expands in personalized medicine with 5% equity stake in AB-Biotics

Spain’s largest pharma company Almirall (ALM.MC) says it has reached an agreement with the Spanish biotech firm AB-Biotics (ABB .MC) invest around 1 million euros ($1.3 million) – or 5% - in the share capital of the company listed on the Spanish Alternative Investment. This will enable Almirall to complement its commitment to innovation through pharmacogenetics and personalized medicine, one of the specialist areas of AB-Biotics.

Almirall becoming part of the share capital of AB-Biotics will enhance the commercial expansion of the pharmacogenetics tests developed by the biotech company. Both companies will be working together on the promotion and commercialization of Neurofarmagen in Spain from 2013.It is a genetic test that uses DNA extracted from a saliva sample to enable the doctor to identify a patient’s predilection to respond to the most commonly used active principles in the treatment of depression, schizophrenia, bipolar disorder and epilepsy.

Details of the equity interest