Drug development firm Brabant Pharma has been sold to US-based pharmaceutical company Zogenix, in a deal where the main selling shareholders were advised by Zeus Capital.
Consideration for the deal is expected to reach up to USD130m.
Brabant is a single purpose company developing its low-dose fenfluramine treatment to Dravet syndrome, Brabafen. The disease, also known as Severe Myoclonic Epilepsy of Infancy (SMEI), is a rare form of intractable epilepsy that begins in infancy and affects one in 40,000 children born. The disease causes frequent, severe and potentially life-threatening seizures that typically start in the first year of life.
The acquisition includes worldwide development and commercialisation rights to Brabafen. The latest results from an ongoing, long-term clinical study in 15 Dravet syndrome patients show that 93 per cent of patients were either seizure-free or had greatly reduced seizure frequency, during an average treatment.
San Diego-based Zogenix, which is quoted on NASDAQ, is a pharmaceutical company developing and commercialising products for the treatment of pain-related and central nervous system (CNS) disorders. The purchase of Brabant will enable the company to expand into European markets, with plans to conduct further studies of Brabafen in 2015.
Dan Bate, corporate finance director at Zeus Capital, says: “We are delighted to have been involved in this transaction which was described by Joseph Sullivan, MD, director of the University of California at San Francisco Pediatric Epilepsy Center as being transformational for Zogenix. Alongside our legal advisory team at Eversheds Manchester led by Danny Hall and Nicola Brookes, we were able to provide the advice and support that enabled our clients to maximise value and to complete the disposal of Brabant quickly and efficiently.”
Zeus Capital is an independent investment banking boutique, providing advisory and fundraising services across public, private and trade transactions.
