Access Pharma acquires MacroChem
Dallas, USA-based Access Pharmaceuticals has acquired New York's MacroChem through the issue of 2.5 million shares of Access' common stock. The acquisition ought to close in the third quarter of 2008.
MacroChem's product portfolio includes two clinical-stage oncology products, 4-thio Ara-C, which is a next-generation nucleoside analogue licensed from the Southern Research Institute, and sodium phenylbutyrate, which is currently being developed in partnership with Access.
The New York firm's portfolio of late-stage clinical drug candidates includes pexiganan, a novel topical anti-infective for the treatment of diabetic foot infection that has already completed two Phase III clinical trials and EcoNail, a novel topical treatment for onychomycosis that is currently in a Phase II clinical trial. MacroChem also has two proprietary dermatology drug platforms, SEPA and MacroDerm.
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