Axcan Acquires Mpex Pharma

Privately-held specialty pharma Axcan will buy Mpex Pharmaceuticals to obtain the latter's Phase III-stage Aeroquin therapy.

Specialty pharmaceuticals company Axcan has reached an agreement to acquire Mpex Pharmaceuticals, Inc. and its lead product candidate, Aeroquin. Aeroquin is a new aerosol formulation of levofloxacin and is currently in Phase III development for the treatment of pulmonary infections in patients with cystic fibrosis (CF).

According to the deal, Mpex will receive an upfront payment and a series of regulatory and success-based payments, but financial details were not disclosed. The acquisition, subject to customary closing conditions, is expected to close in the second half of this year.

Assets not associated with Aeroquin, including financial and human resources, will be spun out of Mpex and into a ne