Acquisition of UF Faculty Startup AbFero Provides Iron Chelators for Numerous Diseases
Late last week, Danish biotech Pharmacosmos announced it had acquired AbFero Pharmaceuticals, a University of Florida startup, for $225 million. AbFero is developing compounds called iron chelators created in Dr. Raymond Bergeron’s lab at UF. Chelators remove extra iron from the body.
Pharmacosmos Group Acquires AbFero Pharmaceuticals, Inc.
Pharmacosmos Group, a leader in the development of innovative treatments for patients suffering from iron deficiency and iron deficiency anemia, today announced the acquisition of UF startup AbFero Pharmaceuticals, Inc., a Boston-based, privately-held clinical stage pharmaceutical company dedicated to treating diseases of iron overload.
Too Much Iron? Pharmacosmos Is Betting $225M on a New Potential Solution for That
Pharmacosmos is putting down $225 million to purchase AbFero, a spinout from Raymond Bergeron’s lab at the University of Florida. Its lead candidate, SP-420, recently completed Phase I safety studies as a treatment for transfusional iron overload.