Pivot Acquires IndUS

Pivot Pharmaceuticals Inc., an emerging biotechnology company developing drugs in the women’s health space, has acquired IndUS Pharmaceuticals Inc., a U.S.-India cross-border pharmaceutical company conducting research and development activities for advancing novel therapeutics in the areas of oncology, metabolic disorders and infectious diseases.

IndUS has a strong intellectual property estate with multiple issued patents and patent applications covering the composition of matter as well as the methods of use for its drug pipeline. Pivot says it will immediately benefit from IndUS’ partnership with the acquisition of an oncology portfolio as well as its ongoing relationship with the Indian Institute of Chemical Technology, a Council of Scientific and Industrial Research (CSIR) institution in India.

The global market for women’s health therapeutics was worth nearly $18.3 billion in 2012 and the market is expected to increase to nearly $22.5 billion in 2018, a compound annual growth rate (CAGR) of 3.5% for the 5-year period of 2013-2018. The worldwide sales for oncology products in 2012 were $68.0 billion and are estimated to increase to $114.4 billion in 2018, at a compound annual growth rate of 9.0%.

“The acquisition of IndUS and its patent portfolio immediately strengthens Pivot’s pipeline targeting unmet medical needs,” said Ahmad Doroudian, chairman, Pivot Pharmaceuticals. “IndUS has recently exercised its option on a portfolio of novel compounds with applications in cancer and is developing products for the treatment of breast, colon, gastric and lung cancer. We welcome Dr. Chaturvedi and his team to Pivot as we continue to build a company that will lead the way in women’s health.”

“I am very proud of the accomplishments of the IndUS team and look forward to having one or more of our novel drug candidates enter clinical trials by Q4 2016,” said Pravin Chaturvedi, chief executive officer, IndUS. “Pivot’s strong management team has efficiently and effectively executed its business plan during its short existence. I foresee a highly productive team that will continue to leverage the pharmaceutical research and development expertise and experience in high growth therapeutic areas of women’s health including gynecological and breast cancer. We look forward to the accelerated development of novel therapeutic agents that will allow us to bring new therapeutic options for patients across the global markets.”