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Biotech / Medical : CEPH - CEPHALON
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From: idos1/14/2009 3:20:55 AM
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CEPH is interested in a humanized IL-5 antibody:

Cephalon gets option to buy Ception Therapeutics

biz.yahoo.com

Cephalon Inc. said late Tuesday it has reached a deal with Ception Therapeutics Inc. that allows it the option to acquire the privately held biopharmaceutical company for an upfront option payment of $100 million.

Ception's lead product is reslizumab, which is currently in a late-stage clinical trial to treat pediatric eosinophilic esophagitis, a condition that results in vomiting, chest pain and difficulty swallowing in children.

The drug candidate is also in a clinical trial to treat a related asthma condition in adults.

Cephalon said it may exercise its option for a period after receiving the final study report for the pediatric clinical trial. If Cephalon exercises its option, the company will purchase Ception's outstanding capital stock for $250 million.
Ception shareholders could receive additional payments if certain clinical and regulatory milestones are met.

"This deal builds on our heritage as a biotech company and creates the opportunity for Cephalon to introduce its first biologic into the market," said Cephalon Chairman and Chief Executive Frank Baldino. "The addition of biologics, which have a longer commercial life, will add higher value products to our portfolio."
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