ThromboGenics explores “strategic options” for the company

24 February 2014

Belgian biotech firm ThromboGenics (Euronext Brussels: THR) revealed this morning that it has retained financial advisor Morgan Stanley to explore “strategic options” – often a euphemism for a sale - for the company.

This decision is intended to increase the company’s ability to realize the significant commercial potential of its ophthalmic drug Jetrea (ocriplasmin) in the USA, and to fully capitalize on the company’s proven product development capabilities. US sales of the injectable drug have so far failed to meet expectations. ThromboGenics’ shares rose 10.2% to 20.68 euros in early trading.

In 2012, ThromboGenics signed a strategic partnership with Alcon, a division of Swiss drug major Novartis (NOVN: VX), for the commercialization of Jetrea outside the USA. Under this agreement, ThromboGenics receives significant royalties from Alcon’s net sales of the drug. ThromboGenics and Alcon intend to share the costs equally of developing Jetrea for a number of new vitreoretinal indications. Alcon has already launched Jetrea in the UK, Germany, Italy, Finland, Denmark, Norway, Sweden and Canada.

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