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Swedish Firms Pledpharma And RTT Merge To Target Orphan Drug Space

Two Late-Stage Assets For Rare Diseases

 
• By Kevin Grogan

Following the failure of PledOx, Pledpharma is joining forces with Rare Thyroid Therapeutics to target orphan treatments, initially focusing on the latter's investigational therapy for MCT8 deficiency.

Swedish flags
Two Swiss companies form new firm targeting orphan diseases • Source: Shutterstock

Plagued by clinical setbacks with its lead asset PledOx for chemotherapy-induced peripheral neuropathy, PledPharma AB has opted to focus on the orphan drug segment and acquire fellow Swedish firm Rare Thyroid Therapeutics and its ultra-orphan asset Emcitate.

The deal will see Pledpharma pay privately held RTT SEK60m ($6.7m) in cash and 63.7 million newly issued shares, giving it 41% of the ownership of the new entity, which is changing its name to Egetis Therapeutics

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