Versicor to Acquire Biosearch Italia
By Biotechdaily staff writers
Posted on 05 Aug 2002
In a move to create a company focused on infection-fighting drugs, Versicor, Inc. (Fremont, CA, USA) has agreed to acquire Biosearch Italia (Milan, Italy) in an exchange of stock valued at US$206.7 million. Biosearch will be merged into Versicor and the new combined company will be called Versicor, at least temporarily. The company's focus will be on developing, manufacturing, and commercializing novel antibiotic and antifungal agents for hard-to-treat infections, and its pipeline will include six product candidates in varying phases of development.Posted on 05 Aug 2002
"We have been collaborating with Biosearch since February 1998,” said George F. Horner III, CEO of Versicor, who will continue in this position. "This merger creates a strong product pipeline, including worldwide ownership of our two leading product candidates, anidulafungin and dalbavancin, significant functional synergies, financial critical mass, and a powerful research engine.”
"This merger will allow us to accelerate this exciting avenue for the discovery of new anti-infective agents and give us the potential to leverage the rich chemical diversity of natural products into additional therapeutic areas through collaboration,” said Francesco Parenti, Ph.D., president and chief science officer of Biosearch.
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