Biotech Values

[DewDiligence]

BAX acquires private company for SCD drug:

http://finance.yahoo.com/news/baxter-acquires-aesrx-llc-including-130000546.html

Baxter International Inc. today announced the acquisition of AesRx, LLC, a private U.S. biopharmaceutical company focused on orphan drug targets, including the development and commercialization of Aes-103, an investigational prophylactic treatment for sickle cell disease (SCD).

Aes-103 is a first-in-class, oral, small molecule compound (5-hydroxymethylfurfural). Early studies indicate the compound may work by binding to hemoglobin and increasing oxygen affinity and stabilization, thereby reducing the sickling of red blood cells which, in turn, may reduce sickling-related outcomes such as vaso-occlusive crisis, pain, severe anemia, and fatigue. Aes-103 has received Orphan designation from the FDA and is eligible for Orphan designation in Europe.

Financial terms were not disclosed.

The SCD program will become part of BAX’s pharmaceutical spin-off planned for mid 2015 (#msg-99552103).