EffRx from Freienbach in the canton of Schwyz is selling a stake of 97.09 percent in the company to the Italian firm Abiogen Pharma. Founded in 2010, EffRx develops and markets prescription drugs targeted in particular to treat musculoskeletal and rare diseases. The most important drug, a bisphosphonate, has been distributed in Italy by the family company Abiogen Pharma as part of a licence agreement.
“Besides strengthening our position in Italy, the acquisition of a majority interest in EffRx is in line with our growth model, serves as a launching pad for our international expansion and confirms our mission and commitment to bone health and rare diseases”, explains Massimo Di Martino, Chairman and CEO of Abiogen Pharma, in the press release. The synergies between the respective areas of expertise of the two companies offer an ideal basis for this, according to Prisca di Martino, International Business Unit Head at Abiogen Pharma.
Lorenzo Bosisio, CEO of EffRx Pharmaceuticals, has identified “very attractive scenarios to further enhance our pipeline” in the partnership with Abiogen Pharma. He adds that the company is “confident that it will provide new and important development opportunities”.
