Analysis & Comment

France's Abionyx to buy IRIS Pharma Holding, expand into ophthalmology

(Reuters) -French biopharmaceutical company Abionyx Pharma said on Wednesday it had signed a deal to buy the owner of ophthalmological group IRIS Pharma.

Abionyx said it would fully finance the deal, which values IRIS Pharma Holding at 5 million euros ($5.66 million), through a capital hike that aims to raise around the same amount.

“Abionyx will have the means to develop a first class of biomedicines to treat ophthalmological diseases – even the most severe and rare ones,” said Abionyx CEO Cyrille Tupin in a statement, citing anticipated clinical programmes.

Abionyx said the acquisition, which would make IRIS Pharma an independent subsidiary, should help the group become a specialist in ophthalmological biomedicine as well as kidney diseases.

It added that the capital increase prices Abionyx’s shares at 3.60 euros each and is already over three-quarters subscribed.

($1 = 0.8832 euros)

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