Forest gains access to antibacterial, sets up for possible acquisition
Nabriva Therapeutics gets $25 million and other considerations, but also gives Forest Laboratories an option to acquire the company
Pursuant to theagreement, Forest will provide Nabriva with $25 million, and will fund andconduct in collaboration with Nabriva certain development activitiesrelated to BC-3781 over the next year.
Moreoever, During that 12-month period,Forest has the exclusive right to acquire Nabriva. Forest's decisionto acquire Nabriva will be dependent upon certain contingencies.
Nofurther financial or other terms were disclosed, and the transaction issubject to customary regulatory clearances including termination of theapplicable Hart-Scott-Rodino waiting period.
BC-3781 belongs to a novel class of antibiotics, the pleuromutilins.BC-3781 exhibits microbiological activity against a wide range ofGram-positive pathogens (including Methicillin-Resistant Staphylococcusaureus, or MRSA, and penicillin-resistant Streptococcus pneumoniae) aswell as certain Gram-negative organisms (including Legionellapneumophila and Chlamydophila pneumoniae), often implicated inrespiratory infections.
In addition, studies to date suggest BC-3781exhibits no cross resistance with other antibiotic classes and has a lowpropensity for inducing resistance itself. Based on its profile,BC-3781 may have utility in the treatment of both acute bacterial skinand skin structure infections (ABSSSIs) and community-acquired bacterial pneumonia, among other conditions. BC-3781 would complementForest's existing hospital antibiotic franchise because intravenous andoral forms are expected, providing an opportunity to treat patientsafter they are discharged from a hospital.
In 2011, Nabriva announcedpositive results from a Phase IIb study of BC-3781 in 207 patients withABSSSI and the parties expect to advance BC-3781 into pivotal Phase IIIstudies in 2013.
Nabriva Therapeutics is a biotechnology company focused on developing anew class of antibiotics for the treatment of serious infections causedby resistant pathogens. Nabriva's lead systemic product is BC-3781.
SOURCE: Forest Laboratories news release