Sandoz, a division of the Novartis Group, has signed a definitive agreement to acquire Oriel Therapeutics, gaining exclusive rights to a portfolio of generic drug candidates and related technologies for the inhalable respiratory drug market.
The acquisition provides Sandoz with three promising development projects that target leading medicines in the field of respiratory products.
Oriel focuses on developing respiratory products with known pathways as generic alternatives to patented drugs for asthma and chronic obstructive pulmonary disease (COPD).
The acquisition of Oriel, which will be integrated as a separate development unit within Sandoz, also provides access to the FreePath(TM) drug delivery technology, which is designed to improve the regulatory approval of generic inhaled medicines in the US.
Although the terms of the deal were not disclosed, it is known that Oriel's owners will be eligible for additional payments based on various milestones related to technical development as well as regulatory approvals and market launches.