Biovitrum aims to spin-out Cambridge Biotechnology
Biovitrum AB announced the initiation of a process aiming to spin out its small molecule UK based R&D subsidiary Cambridge Biotechnology (CBT) and a range of primary care projects. The proposed transaction reflects Biovitrum's previously announced decision to focus its in-house R&D on specialist pharmaceuticals and protein therapeutics. Biovitrum has engaged Nomura Code in this process.
The CBT R&D pipeline includes one Phase II neuropathic pain project; one Phase II and one Phase I obesity projects as well as a highly novel leptin mimetic candidate drug in obesity; and one pre-clinical and four pain and inflammation discovery programmes.
"CBT has a highly competent and successful stand-alone internal R&D organization based on solid technologies and know-how. As we leave small molecule, primary care drug development, I am convinced that CBT will be successful in the further development of its highly promising pipeline of primary care projects outside Biovitrum," said Martin Nicklasson, CEO of Biovitrum. He added: "This decision is a logic step in the execution of our strategic roadmap. Biovitrum will now continue its efforts on bringing valuable new medicines to people with high medical needs by focusing on specialist pharmaceuticals."
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