MASSY, France--(BUSINESS WIRE)--MITEM PHARMA, the pharmaceutical laboratory based in France and dedicated to Medicines of Major Therapeutic Interest (M.I.T.M.), is pleased to announce the worldwide acquisition of DESFERAL®, a major MITM in hematology, from Novartis (Basel - Switzerland).
DESFERAL® (deferoxamine) is an injectable medicine indicated for the treatment of iron overload, which may occur for example following blood transfusions necessary for the treatment of beta-thalassaemia and sickle-cell anaemia. Deferoxamine is included in the WHO list of essential medicines.
The financing of this acquisition was made possible by the support of the historical partner TechLife Capital, MACSF and the funds managed by Access Capital Partners and Swen Capital Partners. These financial partners were motivated by the service provided to patients by MITMs, and the unique positioning of MITEM PHARMA dedicated to MITMs. The financial details of this transaction are not disclosed.
MITEM PHARMA is a new-generation pharmaceutical laboratory whose mission is to maintain and rejuvenate the range of treatments available for serious diseases. MITEM PHARMA identifies therapeutic needs, secures the supply and availability of existing medical need medicines in the market, and develops new products to ensure the availability of the best possible treatment for a targeted therapy.
DESFERAL® is now marketed in over 60 countries. It is manufactured in Europe. Its injectable (subcutaneous) formulation offers a well-known safety profile and extensive experience in medical protocols.
Beta-thalassaemia is a hereditary disease affecting the quality of haemoglobin production, while sickle cell anaemia results from abnormal maturation of red blood cells. Both diseases result in tissue oxygenation defects and serious vascular disorders. An estimated 50 million people worldwide suffer from sickle cell anaemia, with 310,000 births affected each year. Beta-thalassaemia affects around 10 people per million population.
With this acquisition, which will complement its existing portfolio of 4 MITMs, MITEM PHARMA has taken an important step in its growth strategy to create a major player dedicated to MITMs.
Claude-Alain CUDENNEC and Eric THIERRY, founders of MITEM PHARMA, declare: "We are proud to have completed this acquisition, which reflects in every way our determination to take action for hereditary diseases and rare diseases. The confidence that Novartis has shown in us through this sale is also recognition of the professionalism of all MITEM PHARMA's employees. This step reinforces our objective of international growth and our commitment to securing the availability of MITMs in the most effective ways to patients.”
Jacques ROSSIGNOL and Jean-Max DEMIAUTTE of TECHLIFE CAPITAL comment: "We are pleased to accompany MITEM PHARMA in its strategic focus on developing and securing MITMs. We are honored to follow-on the great heritage from Novartis in the management of this important drug with proven efficacy in these severe diseases, DESFERAL®, which we plan to further develop and expand. This acquisition will perfectly complement MITEM PHARMA’s existing portfolio of MITMs and will contribute to strengthening and enlarging its worldwide reach and presence."
Sébastien COUVET, Financial Portfolio Manager at MACSF, explains: “MACSF, which wants to contribute to improving healthcare through its investments, supports the development of MITEM PHARMA. This pharmaceutical laboratory, which takes up and relaunches important drugs with proven efficacy in serious diseases, and secures their availability at reasonable prices, is useful to both patients and healthcare professionals.”
About MITEM PHARMA
MITEM PHARMA is a French pharmaceutical laboratory specializing in Medicines of Major Therapeutic Interest (MITM). MITEM PHARMA's mission is to improve patients' quality of life by securing the availability of important drugs, the only treatments for severe diseases, whose supply shortages pose a public health risk. Working with partner doctors and patient associations, the company identifies these situations, and buys, upgrades, improves or develops these essential drugs to guarantee access to appropriate care. MITEM PHARMA constantly adapts to patients, the environment and market trends to make MITMs accessible at every stage of life, particularly in the fields of hematology, endocrinology, emergency cardiology and medical dermatology. MITEM PHARMA is currently present in 15 countries on 3 continents.
For further information: www.MITEMPHARMA.com
About TECHLIFE CAPITAL
TECHLIFE CAPITAL is a growth equity fund specialising in the healthcare and technology industries, where it proactively identifies promising sector verticals that it investigates in depth (drugs of major therapeutic interest, cancer diagnostics, biotech services, orthopaedic prostheses, healthcare data management, etc.). It then helps to structure these sectors by selecting and supporting ambitious companies in their transformation into European or even global leaders. TECHLIFE CAPITAL is currently invested in 8 companies in healthcare, health tech, and technologies. TECHLIFE CAPITAL SAS is a management company approved by the French Autorité des Marchés Financiers, and has been awarded the Tibi label for Innovation Financing by the French Ministry of the Economy.
More information can be found on www.techlifecapital.com