Divestiture • Life Science

Salix Pharmaceuticals Acquires Photocure ASA - Lumacan

On October 20, 2010, Salix Pharmaceuticals acquired life science company Photocure ASA - Lumacan from Photocure ASA

Acquisition Context
  • This is Salix Pharmaceuticals’ 1st transaction in the Life Science sector.
  • This is Salix Pharmaceuticals’ 1st transaction in Norway.

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M&A Deal Summary

Date October 20, 2010
Target Photocure ASA - Lumacan
Sector Life Science
Buyer(s) Salix Pharmaceuticals
Sellers(s) Photocure ASA
Deal Type Divestiture

Target Company

Photocure ASA - Lumacan

Norway
Lumacan is a novel agent intended for prescription use in colon cancer screening and diagnosis. Lumacan is based on the accumulation of a photosensitizer in the target cells that upon illumination generate fluorescence and as a result become easily identified. Lumacan contains hexamiolevulinate.
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Buyer Overview 1

Buyer

Salix Pharmaceuticals

Raleigh, North Carolina, United States

Category Company
Founded 1989
Sector Life Science
Revenue 933M USD (2013)
DESCRIPTION

Salix Pharmaceuticals Ltd. is a developer and marketer of prescription pharmaceutical products and medical devices for the prevention and treatment of gastrointestinal diseases. Salix's strategy is to in-license late-stage or marketed proprietary therapeutic products, complete any required development and regulatory submission of these products, and market them through Salix's gastroenterology specialty sales and marketing team.


Deal Context for Buyer #
Overall 2 of 4
Sector: Life Science 1 of 2
Type: Divestiture 1 of 1
Country: Norway 1 of 1
Year: 2010 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-06-04 Q-Med Scandinavia

Princeton, New Jersey, United States

Q-Med Scandinavia, Inc. provides treatment products of vesicoureteral reflux.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-08 Oceana Therapeutics

Edison, New Jersey, United States

Oceana Therapeutics, Inc., a privately-held provider of gastroenterology and urology therapeutics.

Buy -

Seller Profile 1

SELLER

Photocure ASA

Oslo, Norway

Category Company
Founded 1997
Sector Medical Products
Employees60
DESCRIPTION

Photocure, is a providder in photodynamic technology in pharmaceutical company. Today, the company has over 60 employees and operates in Norway, Sweden, Denmark, Finland and the United States.


Deal Context for Seller #
Overall 1 of 1
Sector: Life Science 1 of 1
Type: Divestiture 1 of 1
Country: Norway 1 of 1
Year: 2010 1 of 1

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