Swiss medical giant Roche acquires small Danish biotech company  

2006.05.10
Swiss medical giant Roche has acquired Proteopharma, a biotech subsidiary of Aarhus-based Borean Pharma, for an undisclosed sum

Swiss medical giant Roche has acquired Proteopharma, a biotech subsidiary of Aarhus-based Borean Pharma, for an undisclosed sum. Under the agreement Roche receives exclusive rights to develop and commercialise Apo A-1, a protein developed by Proteopharma for the treatment of arthrosclerosis. Borean Pharma has optimised Apo A-1 by combining three molecules together. The protein has not yet been tested in humans.

Jesper Zeuthen, chairman of the board of Borean Pharma says: "Unfortunately Roche does not permit us to say how much we have received. I can only say that the agreement is really good." Jesper Zeuthen is also director of Bankinvest, the majority shareholder of Proteopharma with a stake of just under 50%. The other main shareholders are Incuba Venture, Novi A/S, Aravis Venture and ABN Amro.

Johanna Holldack, MD of Borean Pharma comments: "Now we are in a financially stable situation; with our size we would not have been able to take the product further. We can now focus on what we are best at, and that is to develop new protein binders."

Borean Pharma is a leading Danish drug discovery and development company focusing on recombinant protein technology. It was founded in 2001 as a spin-off from the University of Aarhus. The news was reported by financial daily newspaper Børsen and in a press release on Borean Pharma's website.

Link > Borean Pharma 

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