Acquisition Diversifies Cephalon Technology Portfolio and Forms Foundation for Biologics Business
FRAZER, Pa., Aug. 10 /PRNewswire-FirstCall/ -- Cephalon, Inc. (Nasdaq: CEPH) announced today that it has completed its previously announced acquisition of all of the outstanding ordinary shares of Australian biotechnology company, Arana Therapeutics Limited. As a result of the acquisition, Arana is now a wholly-owned subsidiary of Cephalon.
Cephalon Chairman and CEO, Frank Baldino Jr., Ph.D., said, "We are excited about the advanced biological and molecular technology expertise that Arana brings to Cephalon. With biologics in inflammatory diseases and clinical candidates in oncology for solid tumors, this acquisition will catalyze the entry of Cephalon into the biologics space."
Cephalon acquires an established protein engineering technology platform to transform proteins, including antibodies, into potent drug candidates. The lead biologic in the portfolio (ART621) is the first domain antibody to enter the clinic targeting TNF alpha, and is in a phase 2 clinical program for rheumatoid arthritis. Additional biologics acquired include: a RANKL inhibitor for bone metastases; one targeting a novel epitope for colorectal cancer in collaboration with Kyowa Hakko-Kirin; one targeting gangliosides for small cell lung cancer and melanoma; one targeting IL 12 /23 for psoriasis and Crohn's disease as well as other earlier stage opportunities.
About Cephalon, Inc.
Founded in 1987, Cephalon, Inc. is an international biopharmaceutical company dedicated to the discovery, development and commercialization of many unique products in four core therapeutic areas: central nervous system, inflammatory diseases, pain and oncology. A member of the Fortune 1000 and the S&P 500 Index, Cephalon currently employs approximately 3,000 people in the United States and Europe. U.S. sites include the company's headquarters in Frazer, Pennsylvania, and offices, laboratories or manufacturing facilities in West Chester, Pennsylvania, Salt Lake City, Utah, and suburban Minneapolis, Minnesota.
Cephalon has a growing presence in Europe, the Middle East and Africa. The Cephalon European headquarters and pre-clinical development center are located in Maisons-Alfort, France, just outside of Paris. Key business units are located in England, Ireland, France, Germany, Italy, Spain, the Netherlands for the Benelux countries, and Poland for Eastern and Central European countries. Cephalon Europe markets more than 30 products in four areas: central nervous system, pain, primary care and oncology.
