28 Mar 2016
Speciality drug business Sigmoid Pharma has agreed to buy the Irish business of Japanese pharmaceutical equipment group Freund.
Dublin-based Sigmoid has developed a technology to deliver drugs effectively orally, where previously they had to be injected. It is now looking to apply that technology to therapies for gastrointestinal diseases.
Its CyCol therapy, targeting ulcerative colitis, is currently in late stage development. Company founder Ivan Coulter said the Freund acquisition “will enable us to advance our lead programmes through late stage clinical development and expedite our goal of becoming a global leader in the development of oral, effective and safe gastrointestinal disease therapeutics”. Dr Coulter, who set up the business in 2003 and remains its chief executive, has said previously that the global market for treating ulcerative colitis was $4 billion.