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Actelion Passes On Trophos Acquisition After Failed Lou Gehrig's Study

 
• By John Davis

Actelion decides not to exercise its option to acquire the Marseille-based French biotech Trophos after the failure of that company's lead compound, olesoxime, in a Phase III study in amyotrophic lateral sclerosis

Swiss biotech Actelion Pharmaceuticals Ltd. has decided not to exercise its option to acquire privately held Trophos SA, after the French company reported Dec. 13 that its lead compound, olesoxime, had not reached its primary endpoint, improved survival, in a Phase III study in amyotrophic lateral sclerosis.

The option agreement seems prescient, as Actelion has avoided spending a large amount of money on a company whose lead product has not done as well as expected. Actelion and Trophos finalized the option deal in July 2010, with Actelion laying out a relatively modest €10 million ($13 million) upfront, but with an option to pay €125 million to acquire Trophos when Phase III data on olesoxime use in ALS, also known as Lou Gehrig's disease, became available Also see "Trophos Blueprints Path To Exit With Actelion Option Deal" - Pink Sheet, 20 July, 2010.

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