Through this acquisition, Sigmoid will acquire 100% ownership of the Freund Pharmatec entity and assets, including a state-of-the-art GMP pharmaceutical manufacturing facility and research laboratories. Sigmoid says it will benefit from the expanded manufacturing capacity that the existing Freund Spherex and Granulex technologies provide as well as various intellectual property assets. This facility is located in the IDA business park in Tullamore, Ireland.
Freund Pharmatec will continue ongoing customer-funded research and development programs under Sigmoid management, and will support manufacturing for Sigmoid’s clinical development pipeline, including its late stage CyCol program, which is in development for ulcerative colitis. Sigmoid will also explore opportunities to build on existing Freund Pharmatec and Sigmoid customer-funded drug delivery research projects and related licensing businesses, where applicable.
“We are very pleased to complete the acquisition of the Freund Pharmatec entity,” said Ivan Coulter, chief executive officer and founder, Sigmoid Pharma. “Sigmoid and Freund have had a long-standing relationship with a shared focus on utilizing seamless minicapsule technology. This acquisition comes at an exciting time in Sigmoid’s development and will enable us to advance our lead programs through late stage clinical development and expedite our goal of becoming a global leader in the development of oral, effective and safe gastrointestinal disease therapeutics.”