Biogen Idec has agreed to acquire Fumapharm AG, a developer of therapeutics derived from fumaric acid esters for patients with high unmet medical need. The company has two products: Fumaderm, a commercial product available in Germany for the treatment of psoriasis, and BG-12, a clinical-stage product that has been jointly developed with Biogen Idec. An oral fumarate, BG-12 is being investigated for the treatment of multiple sclerosis (MS) and psoriasis.

“This acquisition supports our goal of developing innovative therapeutic options for people living with MS,” said James C. Mullen, Biogen Idec’s president and chief executive officer. “We look forward to continuing the development of BG-12, a promising oral compound in MS, as well as expanding our European operations by working with Fumapharm’s existing partners to provide Fumaderm to psoriasis patients in Germany.”

“Biogen Idec is perfectly positioned to continue the development of BG-12 because of its global commercial and regulatory experience and unsurpassed expertise in MS. We are proud of the work that Fumapharm has accomplished in the last 20 years and are confident that Biogen Idec will continue our legacy of helping patients,” said Dr. Hans Peter Strebel, chairman and chief executive officer of Fumapharm.

The transaction is expected to close within the next two months. Upon completion, Biogen Idec will acquire all of the issued and outstanding shares of the capital stock of Fumapharm and will take over manufacture and sale of Fumaderm in Germany through Fumapharm’s existing network. Financial terms of the transaction were not disclosed.