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Sigmoid Pharma agrees to acquire Freund Pharmatec

Sigmoid Pharma has entered into an agreement to acquire Freund Pharmatec.

Freund Pharmatec, a wholly-owned Irish subsidiary of Freund Corporation, is a specialist drug delivery technology company focused on proprietary mini-encapsulation and layering technologies.

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. The highly skilled team of employees of Freund Pharmatec will enhance and expand Sigmoid’s team.

Sigmoid 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. Financial terms of the transaction have not been disclosed. Philip Lee and KPMG acted for Sigmoid.

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.

Sigmoid Pharma CEO and founder Ivan Coulter said: "We are very pleased to complete the acquisition of the Freund Pharmatec entity.

"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."

Freund president and CEO Iwao Fusejima said: "We are very much excited to provide our state of the art pharmaceutical development technology and talents to Sigmoid by transferring Freund Pharmatec Limited in the area of advanced therapeutic solution."