Spain's Ferrer To Rescue Floundering US Biotech Alexza
US Inhaled CNS drug biotech Alexza looks set to be acquired by Spain’s Ferrer, the licensee of its only marketed product Adasuve outside of the US, in an all-cash offer that includes contingent value rights.
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Alexza Pharmaceuticals will receive $40 million up front under a license and supply agreement with Teva Pharmaceuticals USA to commercialize Adasuve (loxapine) inhalation powder.
The European Commission has given the thumbs up for Alexza's schizophrenia and bipolar disorder drug Adasuve (loxapine) to be marketed in the EU.
Pipeline Watch is a weekly snapshot of selected late-stage clinical trial events and approvals announced by pharmaceutical and biotech companies at medical and industry conferences, in financial and company presentations, and in company releases and statements.