U.S.-based Pivot Pharmaceuticals, which specializes in women's health, is buying IndUS Pharmaceuticals for an undisclosed price in a deal that will see Pivot expanding into treatments for oncology, metabolic disorders, and infectious diseases, the companies announced in a press release.
Pivot said it would immediately benefit from IndUS' partnership with the Indian Institute of Chemical Technology.
"The acquisition of IndUS and its patent portfolio immediately strengthens Pivot's pipeline targeting unmet medical needs," Pivot's chairman, Ahmad Doroudian, said in the release.
"IndUS has recently exercised its option on a portfolio of novel compounds with applications in cancer and is developing products for the treatment of breast, colon, gastric and lung cancer," he added.
According to a report by the GEN science website, Pivot's drug pipeline includes three candidates for gynecological treatments: PVT-001 for dysmenorrhea in women aged 15 to 25 years old; PVT-002 for lower urinary tract symptoms and PVT-003 for menopausal symptoms like hot flashes.
In a statement, IndUS CEO Pravin Chaturvedi said he anticipates one or more of the company's drug candidates entering clinical trials by the fourth quarter of 2016, GEN reported.
- here's the release
- here's the story from GEN