Drugmaker Piramal Healthcare today said it has entered into an agreement to acquire worldwide rights to the molecular imaging research and development portfolio of Bayer Pharma.
The portfolio includes rights to florbetaben, which helps detect beta-Amyloid plaque deposition in the brain an indication of probable Alzheimer's disease. Detection of beta-Amyloid depositions is expected to result in earlier diagnosis and more specific treatment of Alzheimer's disease, Piramal said."The company signed an agreement to acquire the worldwiderights to the molecular imaging research and development portfolio of Bayer through its newly created subsidiary Piramal Imaging," Piramal Healthcare said in a filing to the BSE.
Financial details of the deal were not available. Ajay Piramal, Chairman of the Piramal Group, said the acquisition was the second of late stage assets after a similar transaction of BioSyntech assets in 2011.
"We plan to build a promising portfolio in the pharma space, including our newly acquired Molecular Imaging assets, which will help us create a global branded pharma business," he said. As per the agreement, Piramal will have the intellectual property (including patents, trademarks and know-how), worldwide development, marketing and distribution rights of the lead compound florbetaben as well as other clinical and pre-clinical assets of Bayer's molecular imaging business, the filing said.
Further, core members of Bayer's research and development team working on the portfolio will be joining Piramal Imaging, which will carry forward the development of florbetaben and take it through regulatory approval processes worldwide.
Piramal is planning to file for regulatory approvals in 2012. Shares of Piramal Health were trading 1.05% higher at Rs 455.10 at 1035 hours on the BSE.
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