Deerfield, Ill. Munich, Germany. -
Acquisition Includes SuppreMol’s Early-Stage Pipeline of Protein Therapeutics for Autoimmune and Allergic Diseases
Baxter International Inc. (NYSE:BAX) and SuppreMol GmbH today announced that Baxter has acquired SuppreMol for EUR 200 million (approximately $225M USD) before working capital and other adjustments. SuppreMol is a privately held biopharmaceutical company based in Martinsried, Germany developing treatment options for autoimmune and allergic diseases.
The acquisition includes SuppreMol's early-stage development portfolio of novel biologic immunoregulatory therapeutics for the treatment of autoimmune diseases, focusing on the modulation of Fc receptor signaling pathways, an immune target that could have broad applications in autoimmune disorders. In addition to the portfolio, Baxter also acquires and will continue to operate SuppreMol's operations in Munich.
SuppreMol's pipeline includes lead candidate SM101, an investigational immunoregulatory treatment that has completed Phase 2a studies in idiopathic thrombocytopenic purpura (ITP, a disorder causing low platelet levels) and systemic lupus erythematosus (SLE, a disorder in which the immune system attacks healthy tissue). SM101's Phase 2a data, presented during the American College of Rheumatology's 2014 annual meeting, showed a dose response in multiple endpoints among patients with SLE treated with either one of two different doses of SM101 for six months. The pipeline also includes technologies with potential therapeutic applications in other autoimmune diseases as well as IgE-mediated allergic diseases.
"SuppreMol's portfolio of novel investigational treatments complements and builds upon our leading and differentiated immunology portfolio, offering the opportunity to expand into new areas with significant market potential and unmet medical needs in autoimmune diseases," said Ludwig Hantson, Ph.D., president of Baxter BioScience.
"Matching therapeutic innovation with market needs is challenging for biotech companies. Working with Baxter, a global immunology leader, is the ideal setting for SuppreMol's promising therapeutic projects to deliver on our most ambitious goal to treat important autoimmune diseases and severe allergies," said Klaus Schollmeier, Ph.D., CEO of SuppreMol.
"SuppreMol has built a rare combination of leading science and promising therapeutic assets. We are proud that this important work will now continue at Baxter BioScience," said Thomas Hecht, MD, Chairman of the Advisory Board of SuppreMol.
About Baxter BioScience
Baxter BioScience is a leading provider of therapeutic treatments that save, sustain and improve the lives of people with rare conditions, chronic diseases or limited treatment options. Supported by advanced technical and manufacturing expertise, Baxter BioScience has a broad pipeline built on a legacy of innovation in bleeding disorders and immunology and is expanding to address emerging opportunities in technology platforms such as gene therapy and biosimilars. By mid-2015, Baxter expects to establish the BioScience business as a separate, publicly traded, innovation-oriented biopharmaceutical company.
About Baxter International Inc.
Baxter International Inc., through its subsidiaries, develops, manufactures and markets products that save and sustain the lives of people with hemophilia, immune disorders, cancer, infectious diseases, kidney disease, trauma and other chronic and acute medical conditions. As a global, diversified healthcare company, Baxter applies a unique combination of expertise in medical devices, pharmaceuticals and biotechnology to create products that advance patient care worldwide.
About SuppreMol GmbH
SuppreMol GmbH is a privately held biopharmaceutical company developing novel therapeutics for the treatment of autoimmune and allergic diseases. The company is pioneering the development of a soluble Fc-gamma receptor IIB (sFc RIIB), which is a recombinant autologous therapeutic protein with a specific immunoregulatory potential. The company is developing this sFc RIIB clinically for the treatment of certain autoimmune conditions including systemic lupus erythematosus (SLE). SuppreMol's preclinical pipeline includes two antibody development programs which utilize the inhibitory effect of Fc RIIB and are suitable for alternative treatment strategies in autoimmune disease and allergy. SuppreMol was founded as a spin-off from the laboratory of Prof. Dr. Robert Huber, Nobel Prize Laureate in Chemistry 1988, at the Max Planck Institute for Biochemistry in Martinsried, Germany. Major shareholders in the company include MIG Fonds, Santo Holding GmbH, BioMedInvest AG I and FCP Biotech Holding GmbH along with KfW Mittelstandsbank, Bayern Kapital GmbH, Max Planck Society, and Z-Cube.
This release includes forward-looking statements concerning Baxter's acquisition of SuppreMol GmbH, including expectations with regard to the R&D pipeline and business operations, as well as the timing of the planned separation of Baxter's biopharmaceutical and medical products businesses. The statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those in the forward-looking statements: satisfaction of regulatory and other requirements including closing conditions; continued strength in the company's financial position, including cash flows; the ability to successfully separate the businesses on the terms or timeline currently contemplated, if at all, and achieve the intended results; a material adverse change in either the biopharmaceutical or the medical products businesses; actions of regulatory bodies and other governmental authorities; changes in laws and regulations; product quality, manufacturing or supply issues, or patient safety issues; and other risks identified in Baxter's most recent filings on Form 10-K and other SEC filings, all of which are available on Baxter's website. Baxter does not undertake to update its forward-looking statements.