By Ben Hirschler LONDON, June 6 (Reuters) - NeuTec Pharma Plc (NTP.L: Quote, Profile, Research) said on Tuesday it was in discussions which may lead to an offer for the British biotech company, sending its shares soaring more than 80 percent.
NeuTec did not identify its suitor but one person familiar with the situation said the approach had come from a large pharmaceutical company interested in its novel medicines to treat infections caused by "superbugs".
"There can be no certainty that the agreement will be reached and an offer made," the company added in a brief statement.
NeuTec is a relative rarity among biotechnology companies in having a number of late-stage experimental drugs that have not yet been partnered with a large drugmaker.
Nomura Code analyst Samir Devani said it could be attractive to a big anti-infectives player like Pfizer Inc. (PFE.N: Quote, Profile, Research), which last year paid $1.9 billion -- an 84 percent stock premium -- for Vicuron Pharmaceuticals, which operates in the same sector.
NeuTec's most advanced product, Mycograb, is currently awaiting European approval for the treatment of invasive candidiasis -- a life-threatening form of thrush. It is also investigating using the medicine as a breast cancer treatment.
A second medicine, Aurograb, is in final Phase III tests for treating methicillin-resistant staphylococcus aureus (MRSA), the hospital-acquired superbug.... |
