The Medicines Co to acquire ProFibrix but deal hinges on trial results
US drugmaker The Medicines Company (Nasdaq: MDCO) says it has reached agreement to acquire all of the outstanding capital stock of Netherlands-based ProFibrix B, subject to satisfactory review of the pending Phase III clinical trial results of ProFibrix' lead biologic, Fibrocaps.
Fibrocaps is a dry powder topical formulation of fibrinogen and thrombin being developed to stop bleeding during surgery. The Phase III trial, FINISH-3, has completed enrollment of 719 surgical patients with mild to moderate surgical bleeding. Results of the study are expected in the third quarter of 2013. If the results are favorable, FINISH-3 is expected to be sufficient to support a Biological License Application (BLA) filing in the USA and a Marketing Authorization Application with the European regulatory authorities.
Upfront option payment of $10 million
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