ZURICH - Swiss-based pharmaceuticals giant Novartis said Monday it was acquiring Selexys Pharmaceuticals Corp., a US research lab in blood and inflammatory disorders, in a deal costing up to $665 million (627 million euros).
Novartis, a major Swiss pharmaceutical company, is to buy research lab Selexys Pharmaceuticals Corp., which specialises in sickle cell disease, an inherited form of anaemia most common among people of African descent
Selexys specialises in sickle cell disease, an inherited form of anaemia that is most common among people of African descent.
In a statement, Novartis said it exercised rights to buy the company after seeing results from a large trial into a drug to treat pain for people with the disease.
The drug, called SelG1, aims at easing so-called vaso-occlusive pain crises, which happen when sickle-shaped red blood cells block the flow through blood vessels.
The prototype treatment has just completed the second phase of the three-phase process to test new drugs for safety and effectiveness.
"Sickle cell disease affects millions of people around the world and there are limited therapies available for treatment of vaso-occlusive pain crises, a very common complication of the disease," Bruno Strigini, head of CEO of Novartis Oncology, said in the statement.