June 24, 2013

Intezyne Technologies acquires Niiki Pharma

The medical sector is quickly evolving, and all types of businesses within it are working to keep pace and remain ahead of the competition. This blog recently discussed a technology acquisition that will benefit the healthcare industry, as an orthopedic and biologic implants firm bought a company that specializes in making synthetic materials.

Similar M&A activity is underway, as Intezyne Technologies announced in a press release that it had acquired Niiki Pharma, which makes oncology products. The opportunity will help Intezyne, as the firm works in treating cancer.

President and Chief Executive Officer of Intezyne‚Äč, Dr. Habib Skaff, said in the press release that the technology acquisition has the "potential to enhance the treatment of neuroendocrine tumors and other tumor types."

"With the addition of this Phase 2-ready compound to the candidates we have moving through preclinical testing and our breakthrough nanotechnology platform, Intezyne has the potential to develop treatments for a broad array of solid tumors," Skaff said. 

The CEO added that his company's first goal is to launch a Phase 2 study for IT-139 in patients with non-pancreatic neuroendocrine tumors. Currently, there are no anti-tumor therapies approved for this type of cancer, Skaff said.

Niiki Pharma's co-founder, Dr. Hooshmand Sheshbaradaran, will be Intezyne's chief development officer and will also sit on the company's board of directors.

As the healthcare industry wants to provide the best care possible for its patients, technology mergers and acquisitions can be especially important. When the right opportunity is found, that gives both companies involved a chance to highlight their strengths and each firm's clientele can also benefit. That way, patients can ensure that the medicine or treatments being made available to them are combined efforts from organizations that have worked hard to provide them the best possible service.