India’s Lupin bags Symbiomix and its newly approved antibiotic for $150M-plus
Just a few weeks after the FDA approved Symbiomix Therapeutics’ single-dose antibiotic Solosec (secnidazole) for a common form of gynecological infections, the American arm of India’s Lupin has stepped in to buy the company for $150 million in cash plus sales milestones.
Working on the installment plan, Lupin is paying $50 million upfront for Symbiomix, with the rest spread over an unspecified period of time.
Their new antibiotic was given the FDA’s Qualified Infectious Disease Product status, which comes with 10 years of market exclusivity.
Earlier in September Newark, NJ-based Symbiomix outlined its Phase III data for secnidazole, which in a modified intent-to-treat population of 189 women with bacterial vaginosis demonstrated clinical outcome responder rates of 53.3% for 2 g secnidazole compared with 19.3% for placebo (p<0.001). The cure rate was 64% for 2 g secnidazole compared with 26.4% for placebo.
Sybiomix worked with Catalent on their manufacturing operations for the antibiotic, working out of the biotech’s 260,000-square-foot operations in Somerset, NJ.
New antibiotics have been coming along at a steady pace this year, usually from small outfits like this. The Big Pharma crowd still has shown little interest in developing new antibiotics, despite a rising tide of drug resistance. The market is still dominated by cheap generics, though a slate of biotechs believe that demand will soon catch up to the supply they have in the clinic.
“We are delighted to complete the acquisition of Symbiomix and its Solose brand, which immediately expands Lupin’s US women’s health specialty business into the highly-complementary gynecological infection sector,” said Vinita Gupta, CEO of Lupin, in a statement. “This transaction is an important milestone in the evolution of our Specialty business and gives Lupin a new therapeutic to bring to obstetricians and gynecologists to treat a serious health condition they see frequently in their practices.”