Onyx completes acquisition of Proteolix
Onyx completes acquisition of Proteolix
16 November 2009 - US Onyx Pharmaceuticals Inc (NASDAQ: ONXX) announced today that it completed the acquisition of local biopharmaceutical company Proteolix Inc for an undisclosed sum.
The acquired company focuses on discovering and developing novel therapies that target the proteasome for the treatment of hematological malignancies and solid tumors.a Thus, the acquisition positions Onyx for the next level of growth as a multi-product portfolio company with the opportunity to expand into the USD16bn (EUR10.7bn) hematological malignancies market.
The lead asset, carfilzomib, with its potential for an accelerated approval in 2011, may provide the next generation of therapy for patients with multiple myeloma who often relapse or become resistant to current treatment options.
(USD1 = EUR0.668)
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