Biogen Idec to acquire Fumapharm

By Angela McDaniels

Seattle, May 31 - Biogen Idec has signed a definitive agreement to acquire Fumapharm AG, according to a company news release.

The transaction, which has been approved by the boards of directors of both companies and is subject to customary closing conditions, is expected to close within the next two months.

Upon completion, Biogen Idec will acquire all of the issued and outstanding shares of the capital stock of Fumapharm. Financial terms were not disclosed.

Fumapharm is a privately held pharmaceutical company based in Lucerne, Switzerland, that develops therapeutics derived from fumaric acid esters for patients with high unmet medical need.

The company has two products: Fumaderm, a commercial product available in Germany for the treatment of psoriasis, and BG-12, a clinical-stage product that has been jointly developed with Biogen Idec for treatment of multiple sclerosis and psoriasis.

Biogen Idec said it will take over manufacture and sale of Fumaderm for the treatment of psoriasis in Germany through Fumapharm's existing network.

Biogen Idec is based in Cambridge, Mass., where it develops oncology, neurology and immunology therapies.

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