These days it only takes one successful Stage II clinical trial to trigger a takeover bid by a larger pharmaceutical company. Remember two days ago when I wrote about carfilzomib? I didn’t include any drug company info with my post. well, carfilzomib is being developed by a small drug company named Proteoliz, Inc. Today I learned that a larger oncology drug company, Onyx, is trying to acquire Proteoliz, Inc. That didn’t take long! Here is an excerpt from a business related press release about the potential take-over:
…Onyx’s intention to acquire Proteolix, Inc., a privately held biopharmaceutical company focused on discovering and developing novel therapies that target the proteasome for the treatment of hematological malignancies and solid tumors. Proteolix’s lead compound, carfilzomib, is a next generation proteasome inhibitor that is currently in multiple clinical trials, including an advanced Phase 2b clinical trial for patients with relapsed and refractory multiple myeloma.
About Onyx Pharmaceuticals, Inc.
Onyx Pharmaceuticals, Inc. is a biopharmaceutical company committed to improving the lives of people with cancer. The company, in collaboration with Bayer HealthCare Pharmaceuticals, Inc., is developing and marketing Nexavar®, a small molecule drug. Nexavar is currently approved for the treatment of liver cancer and advanced kidney cancer. Additionally, Nexavar is being investigated in several ongoing trials in a variety of tumor types.
All I care about is – does the drug work!? For more information about Onyx, visit the company’s website at www.onyx-pharm.com.
Feel good and keep smiling! Pat