CM&D acquires Biohealth Italia to bolster marketing capabilities in kidney health

CM&D Pharma, a UK-based specialty pharmaceutical company, has acquired Biohealth Italia, an Italian drugmaker experienced in marketing  treatments for kidney stones and other renal conditions.

The deal, financial terms of which were not disclosed, provides CM&D  with an established infrastructure to help market its new Fostrap  chewing gum, designed to reduce cardiovascular complications of kidney  dialysis.

Funding for the acquisition was provided by Inventages Venture Capital  SA of Geneva, Switzerland, and Medfoods Investment of Surrey, UK. The  funding will also support the development of the CM&D product portfolio.  "This acquisition helps establish CM&D's pan-European presence and  marks the first of five corporate acquisitions planned over the next two  years, which will result in a marketing foothold in, France, Germany,  Italy, Spain and the UK," said Stephen Appelbee, chief executive of  CM&D. "The investment also provides the firm with sufficient working  capital to take us through to profitability. We are also delighted to  welcome Massimo Defilippi, who will remain the CEO of Biohealth, onto  the CM&D Executive Committee," he added.