Epix to buy Predix Pharmaceuticals

AuntMinnie.com staff writers
Apr 2, 2006

MRI contrast developer Epix Pharmaceuticals has announced a plan to acquire Predix Pharmaceuticals Holdings, a privately held specialty pharmaceutical firm.

Under the terms of the deal, Epix will buy Predix for $90 million, including the assumption of debt. Predix shareholders will also receive a possible $35 million milestone payment on the achievement of certain clinical or strategic milestones.

Predix specializes in highly selective, small-molecule drugs that target G-protein coupled receptors (GPCRs) and ion channels. It has several drugs in the development pipeline, including pharmaceuticals for treating anxiety, Alzheimer's disease, and pulmonary arterial hypertension.

The intention of the combined company will be to license its later-stage products to larger pharmaceutical or biotechnology companies to maximize the value of these products, the companies said.

By AuntMinnie.com staff writers
April 3, 2006

Related Reading

Epix adds VPs, February 23, 2006

Sales fall, losses grow for Epix in ’05, February 16, 2006

Schering options joint Epix-Schering agent, February 13, 2006

Epix lawsuit dismissed, February 2, 2006

Epix to accelerate EP-2104R phase IIa trials, January 4, 2006

Copyright © 2006 AuntMinnie.com

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