UK’s specialty pharma firm BTG to acquire Biocompatibles for £177.2 million
19 Nov 2010
BTG plc, the UK's biggest specialty pharmaceuticals company, today agreed to buy medical technology company Biocompatibles International for £177.2 million in a cash and share deal to add cancer drugs to its portfolio of specialist products.
London-based BTG is an international specialty pharmaceuticals company that is developing and commercialising products targeting critical care, cancer, neurological and other disorders.
The company's product pipeline comprises of Voraxaze glucarpidase used in the treatment of delayed methotrexate elimination, Varisolve polidocanol endovenous microfoam, a Phase III clinical trial product to treat varicose veins, OncoGel paclitaxel aqueous gel injection, a Phase IIb product for the treatment of oesophageal cancer; and Angiotensin therapeutic vaccine, which is in Phase IIa clinical trials to treat hypertension.
BTG also acquires patent rights to new technologies, which it licenses to manufacturers around the globe. With a focus on biopharmaceuticals and medical products, BTG reviews prospective technologies developed by research institutions, universities, and companies around the globe.
Farnham, UK-based Biocompatibles is a medical technology company specialising in the field of drug-device combination products.
Its products include drug-eluting bead, which reduces the side effects of chemotherapy. It is used in more than 35 countries for the treatment of primary liver cancer, liver metastases from colorectal cancer, and other cancers; and brachytherapy products (radiation-delivering seeds) that are used in the treatment of prostate cancer.
