Cephalon to purchase Ception Therapeutics

Cephalon is to acquire the private biopharmaceutical company Ception Therapeutics after exercising a previously-agreed option to trigger a merger deal.

The firm has decided to go through with its purchase of Ception following positive results from a clinical trial of Ception’s lead compound, the asthma drug Cinquil.

Phase II studies of the drug achieved their primary endpoint of demonstrating improved control of the symptoms of severe asthma and eosinophilic airway inflammation among adult patients.

As a result of this success, the drug will be transitioned to the phase III stage by the two companies.

Dr Frank Baldino Jr, chairman and chief executive officer of Cephalon, said: “The acquisition of Ception is consistent with our strategy to diversify into biologics and provides us with an important phase III asset for further development.”

Earlier this month, the company published its financial results for the 2009 fiscal year, during which it was able to attain a record level of sales and adjusted net income.