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13 Nov 2021
Admin
News Article

Pharmacosmos Group Acquires Boston Based Clinical Stage AbFero Pharmaceuticals, Inc

Pharmacosmos Group, a leader in the development of innovative treatments for patients suffering from iron deficiency and iron deficiency anemia, today announced the acquisition of AbFero Pharmaceuticals, Inc., a Boston based, privately-held clinical stage pharmaceutical company dedicated to treating diseases of iron overload. Pharmacosmos A/S, through a US subsidiary, will acquire all assets of AbFero Pharmaceuticals under a share purchase agreement for a total consideration of up to $225M when combining upfront payments, regulatory and commercial milestones, and royalties. "Given Pharmacosmos's research focus and expertise within iron metabolism and its international commercial presence, the acquisition of AbFero constitutes a perfect strategic fit. We look forward to completing the development of SP-420 in order to bring new treatment options for patients suffering from transfusional iron overload and other iron mediated conditions," said Lars Christensen, CEO of Pharmacosmos A/S. "The role of iron in disease has been vastly underappreciated. As a leader in iron metabolism disorders, Pharmacosmos is uniquely positioned to realize the full potential of our chelation platform," said AbFero CEO and Co-Founder Thomas X. Neenan. "We are grateful to Prof. Ray Bergeron of the University of Florida, the inventor of our technology platform, and to our management and investors for their commitment to our mission. We now look forward to joining forces with Pharmacosmos to deliver much-needed therapeutic options to patients." ABOUT IRON CHELATION THERAPY AND SP-420 Patients with hematological diseases such as

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