Ergomed to acquire Haemostatix and make share placement

4 May 2016

UK provider of development services to drugmakers Ergomed (AIM: ERGO) today announced the proposed acquisition of Haemostatix, a company focused on developing a pipeline of topical products to treat surgical bleeding (coagulants or ‘hemostats’).

Ergomed is acquiring 100% of the issued share capital of Haemostatix for an initial consideration of £8.0 million ($11.6 million), with further success and sales based payments of up to £20.0 million. Ergomed shares were down 4.2% at 138.00 pence in Wednesday afternoon trading.

Haemostatix two lead products are PeproStat, liquid hemostat that is applied to wounds to control bleeding during surgery, and ReadyFlow, at the late pre-clinical stage. PeproStat is expected to start a Phase II trial next year and ReadyFlow will move into Phase I in 2018. If approved, they will enter a market worth some $2.5 billion.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK