Drug developer Ergomed acquires Leicester spinout Haemostatix, which is developing a blood clotting peptide sequence, for $11.5m upfront and a potential future payment of $29m.
Haemostatix, a Leicester University spinout, has been acquired by drug development company Ergomed for £8m ($11.5m) upfront, according to Leicester Mercury.
Haemostatix was established in 2003 to commercialise a specific peptide sequence that helps with blood clotting. It was co-founded by Alison Goodall, professor of thrombosis and haemostasis at the university.
Ergomed, through the acquisition, will gain 100% of the issued share capital of Haemostatix. The £8m paid by Ergomed for this will be supplemented by a further £20m dependent on future developments and sales.
Previously, Haemostatix raised investment from Albion Ventures. Remaining backers reportedly include Nesta, a charity working to increase innovation in the UK, Catapult Ventures, Esperante, Braveheart and the Wellcome Trust, a biomedical research charity.
Miroslav Reljanovic, chief executive of Ergomed, speaking to the Leicester Mercury said: “The Haemostatix acquisition provides an opportunity to advance our growth strategy through the development of our first proprietary development programme.
“I have confidence from the current pre-clinical and clinical data that the Haemostatix technology works as an effective haemostat.”
Goodall said: “This deal allows the products and the company to move forward into clinical trials.”
