Biovitrum sells UK part

Biovitrum will soon spin-out a British subsidary

The Swedish biopharmaceutical company Biovitrum has announced the initiation of a process aiming to spin out its small molecule UK based R&D subsidiary Cambridge Biotechnology, as well as a range of primary care projects.

According to Biovitrum, this proposed transaction reflects its previously announced decision to focus its in-house R&D on specialist pharmaceuticals and protein therapeutics. Biovitrum has engaged Nomura Code in this process.

The Cambridge Biotechnology R&D pipeline includes one phase II neuropathic pain project; one phase II and one phase I obesity projects as well as a highly novel leptin mimetic candidate drug in obesity; and one pre-clinical and four pain and inflammation discovery programmes.