US-based Celgene has completed the acquisition of biopharmaceutical firm Receptos, for $7.2bn.
The deal was first announced by both firms in July this year.
Under the deal, Celgene has paid $232.00 per share in cash to the stockholders of Receptos, which is expected to expand the firm’s inflammation and immunology (I&I) portfolio.
Receptos is involved in developing therapeutic candidates for the treatment of immune and metabolic diseases.
Celgene chairman and CEO Bob Hugin said: "The Receptos acquisition provides a transformational opportunity for Celgene to impact multiple therapeutic areas.
"This acquisition enhances our I&I portfolio and allows us to leverage the investments made in our global organization to accelerate our growth in the medium and long-term."
The firm’s Ozanimod is a sphingosine 1-phosphate 1 and 5 receptor small molecule modulator, which is being developed for immune-inflammatory indications including, inflammatory bowel disease (IBD) and relapsing multiple sclerosis (RMS).
According to the firm, the clinical studies of Ozanimod showed several areas of potential advantage over existing oral therapies to treat ulcerative colitis (UC) and RMS, including its cardiac, hepatotoxicity and lymphocyte recovery profile.
Currently, the phase three True North trial for the drug in UC is underway and results are expected in 2018, while phase three Radiance and Sunbeam RMS trials are ongoing and data is expected to be released in the first half of 2017.
In addition, the firm is developing RPC4046, an anti-interleukin-13 (IL-13) antibody for (EoE), an allergic / immune-mediated orphan disease and other pipeline and pre-clinical stage compounds.
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