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Helsinn Announces Acquisition of Sapphire Therapeutics, Inc. creates and Helsinn Therapeutics (U.S.) Inc.

Helsinn has announced the acquisition of U.S. biopharmaceutical company Sapphire Therapeutics Inc., based in Bridgewater (New Jersey), for an amount not announced.

The creation of a commercial operation and R & D in U.S. represents an achievement of the objectives as a strategic business Helsinn Group. "We are very excited about this outstanding opportunity that serves to extend the value of Helsinn with a direct presence in the largest pharmaceutical market in the world," coment贸Riccardo Braglia, CEO of Helsinn Group. "The acquisition of Sapphire Therapeutics will enable us to further expand our existing range of products within therapeutic areas, focusing in particular on support for the treatment of cancer. This is a great step forward for the growth of Helsinn in the future thanks to its new subsidiary called Helsinn Therapeutics (U.S.) Inc., "he added.

Sapphire Therapeutics, Inc. was founded in 2000 and has focused on developing first class products protected by composite material to treat a variety of cancer diseases, gastrointestinal and metabolic. "Sapphire Therapeutics Inc. and its staff have proven experience biotechnology and pharmaceuticals, and we're excited to be part of Helsinn Group," said William J. Polvino, CEO of Sapphire Therapeutics (U.S.) Inc.

Helsinn chose Franco De Vecchi, who is a member of the board of Helsinn Holding, to become president and CEO of Helsinn Therapeutics (U.S.) Inc., to manage all existing staff, which will be maintained and strengthened.


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Submitted by antoq on Tue, 02/17/2009 - 06:29.

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