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Home Industry News Cephalon closes deal with Acusphere

Cephalon closes deal with Acusphere

5th November 2008

Cephalon has finalised a deal with the speciality pharmaceutical company Acusphere that will enable it to use its innovative drug delivery system.

Acusphere says it will receive an upfront fee of $5 million (3.145 million pounds) with an additional issuance of $15 million over three years via a senior secured convertible note.

The deal centres on an exclusive worldwide license to use AI-525, a preclinical-stage injectable formulation of celecoxib using Acusphere’s proprietary Hydrophobic Drug Delivery System (HDDS) technology.

Acuphere is a specialty pharmaceutical company that develops new drugs and formulations of existing drugs using its proprietary microsphere technology.

Its lead product candidate is Imagify for injectable suspension, a cardiovascular drug for the detection of coronary artery disease.

Cephalon is an international pharmaceutical company founded in 1987.

Recently the company confirmed that its non-Hodgkin’s lymphoma drug Treanda demonstrated high and durable response rates for patients with the disease who had not responded adequately to initial treatment with other drugs.

Cephalon was named as manufacturer of the year by AmerisourceBergen for branded pharmaceutical sales under $300 million.

This was the second year in a row the company has won the award.

In addition to other accolades the firm has attracted this year, its executive vice president Robert Roche was also the recipient of the man of the year award from the Greater Philadelphia Chapter of the Leukemia and Lymphoma Society.

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