Novartis buys Spinifex

Earlier this year I posted on Spinifex Pharmaceuticals, a private venture-backed pharma based in Melbourne and Stamford, USA. Spinifex has one drug in clinical development, EMA401, an oral (AT 2 receptor) treatment for chronic pain, with focus on neuropathic pain conditions. The initial inventor of Spinifex's technology, was Prof. Maree Smith of the University of Queensland ( a familiar name) . The company has successfully completed one large Phase 2 trial of EMA401 in postherpetic neuralgia. The company was due to commence another large Phase 2 study of the drug in PHN this year and also planned further Phase 2 trials in Painful Diabetic Neuropathy and osteoarthritis of the knee.

Today Spinifex announced a buy-out of the company by Novartis. Novartis will pay $200 million upfront and Spinifex shareholders may receive further payments based on clinical development and regulatory milestones. The transaction is expected to close in the second half of this year, pending regulatory approval.

http://www.reuters.com/article/2015/06/29/us-novartis-m-a-spinifex-idUSKCN0P90FL20150629

http://hotcopper.com.au/threads/oxyc-anzctr.2437110/page-13?post_id=14569491#.VZDyffmqpBc