Pharmstandard buys stakes in two more foreign drug cos for $5.77 mln
MOSCOW. May 5 (Interfax) - Pharmstandard International S.A. (Luxembourg) acquired stakes in two more foreign pharmaceutical companies in 2015 for $5.77 million.
The materials of Russian drug company Pharmstandard show that in January Pharmstandard International acquired 4.18% of Engene Inc. for $770,000. Engene, based in Montreal, Canada, has developed a flexible nucleotide delivery technology targeting mucosal tissues to treat prevalent, chronic diseases via the induction or suppression of protein expression levels.
In April, Pharmstandard International paid $5 million for a 2.4% stake in Jounce Therapeutics, a U.S.-based company that is developing a cancer treatment based on mobilizing the immune system.
The drug maker also reported that Pharmstandard International's stake in U.S. biopharmaceutical company Argos Therapeutics has been diluted to 30.4% as a result of the conversion of voting preferred shares into voting common shares and a new share issue. The company bought 35% of Argos in 2013 for $36.8 million, and subsequently Pharmstandard International paid an additional $10.2 million.