Abstract:
Cypress business deal has effected an acquisition wherein Proprius Pharmaceutical Inc was acquired by Cypress BioScience Inc. The declaration was made on 26th of February 2008. As a result of this business deal, the treatment of fibromyalgia as well as RA or rheumatoid arthritis will be attended to. The two companies in their own fields of expertise will employ their methods for the treatment of the same. It is anticipated that it would be of immense help to the doctors treating patients with the RA as well as fibromyalgia case histories.
Business deal announcement and value of the business deal:
The officials of Cypress Bioscience Inc announced that a Cypress business deal had made possible the acquisition of Proprius Pharmaceuticals by Cypress BioScience Inc on the 26th day of February 2008. The Cypress business deal was valued at $37.5 million. Cypress BioScience as well as Propius Pharmaceuticals is involved in the drug development and diagnostic technologies respectively.
Usefulness of the Cypress Business deal:
Owing to the Cypress business deal there is a fusion of the expertise of Cypress employed in the development of drugs and various commercial resources. Included in this is also Milnacipran, which is used for the treatment of fibromyalgia and was until now under the review of US Food & Drug Administration. Propius Pharmaceuticals on the other hand is engaged in employing a number of technologies for the treatment and detection of RA or rheumatoid arthritis. It is being reckoned that due to the business deal, the new firm may assist the medical professionals or doctors in meeting various medical requirements related to fibromyalgia as well as rheumatoid arthritis, which have not been met as yet.
Company profile of the acquiring company-Cypress BioScience Inc:
Cypress is responsible for the development as well as commercialization of customized medical services in the laboratories. It also commercializes several pharmaceutical products thereby supporting many medical professionals to address unattended aspects of RA as well as fibromyalgia. Over the years, the company has also strategies pertaining to potential transactions in acquiring pharmaceutical firms, pharmaceutical products as well as technical know how related to pharmaceuticals.
Company profile of the target company-Propius Pharmaceuticals Inc:
The company applies several technologies, which are "predictive", "diagnostic" or "prognostic" in nature so that it can furnish "actionable" details to the doctors taking care of patients with RA or rheumatoid arthritis.