New transatlantic Pharma launches

EUSA Pharma Inc, a new transatlantic specialty pharmaceutical company focused on developing and marketing products for the hospital market both in Europe and the USA, says that it has raised a total of $175.0 million for the agreed acquisition of OPi SA, an integrated biopharmaceutical company, as well as for further development of the group.

The acquisition, the actual cost of which is not disclosed, is being funded with finance from a syndicate led by Essex Woodlands and 3i including, Goldman Sachs, Advent Venture Partners, NeoMed and NovaQuest.

OPi, which is headquartered in Lyon, France, develops and markets worldwide a range of specialty drugs aimed at treating patients suffering from rare and severe diseases. Its primary focus is onco-hematology, and has two drugs approved for the treatment of acute lymphoblastic leukemia - Erwinase (crisantaspase) and Kidrolase (L-asparaginase). OPi is also active in other therapeutic areas, with commercialized hospital products targeting rare and severe diseases, and has an R&D portfolio including monoclonal antibodies at various stages of development. The firm generated sales of $23.0 million in 2006, up 69% on 2005, and was profitable.