HRV Pharma has signed definitive agreements to acquire Phatebo GmbH, a licensed clinical trial supplier based in Hilzingen, Germany. The deal stage is agreed; the sources do not disclose the purchase price.
According to a LinkedIn post by HRV Pharma, Phatebo sources the comparator, investigational and ancillary medicines that sponsors and contract research organisations need to run a trial. HRV described the acquisition as its first step into finished formulations and its first licensed operating business in Europe. The company said its model is "a pharmaceutical company that runs on IP and partnerships, not plants."
The post did not give a closing date, financing details or terms. It also did not say whether Phatebo's management or staff will change. HRV welcomed the Phatebo team in Hilzingen "to the HRV family."
The post said the agreements were signed and referred to coverage in Business Standard and Rediff Money.