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Topotarget announces merger
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April 16th, 2014
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Danish and French pharmaceutical firms will combine
The Danish biopharmaceutical company Topotarget announced today that it has entered into a merger agreement with the Paris-based BioAlliance Pharma. Both companies develop treatments for rare forms of cancer.
Synergy
Judith Greciet, CEO at BioAlliance Pharma, thinks that the move will lead to synergy.
“The merger with Topotarget will strengthen and diversify our position in rare oncology diseases. Topotarget is managed by a highly-experienced team of executives, and the merger will enable both teams to combine their respective expertise to create a new company with a robust and innovative pipeline that is primed for success,” she said in a press release
Value for shareholders
Topotarget’s CEO, Anders Vadsholt, also expresses optimism and considers that the merger makes good business sense.
“We are confident that this merger will deliver to our shareholders the best possible value and the opportunity to jointly shape a dynamic new player in the orphan oncology market,” he said in the press release.
The medical news website Medwatch.dk writes that the companies combined will have a number of asssets with great potential. BioAlliance brings to the table the drugs Livatag and Validive, both of which are in late-stage development, while Topotarget contributes its leading candidate, belinostat.
“Our organisation will be integrated in the new company. The biggest potential in the short run is in belinostat, so there will be a great focus on that drug from the joint unit,” Vadsholt told Medwatch.dk.
Danish job losses unlikely
Vadsholt told Medwatch.dk that he does not foresee Danish job losses in the pipeline.
“I don’t think it will have any impact on Danish jobs, none whatsoever. I can say that without breaking a sweat,” Vadsholt said to Medwatch.dk.
Topotarget currently employs thirteen people in Denmark.
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