CNX Therapeutics to expand CNS portfolio through the acquisition of two established brands from Eisai

London, April 2nd, 2024 – CNX Therapeutics Limited (“CNX Therapeutics”), a speciality pharmaceutical company with a portfolio of medicines for the treatment of central nervous system (CNS) disorders and hospital emergencies in over 40 countries worldwide, is pleased to announce that it has successfully completed the acquisition of two CNS products from Eisai S.A.S. (“Eisai”), the French sales subsidiary of Eisai Co., Ltd. the international pharmaceutical company.

CNX Therapeutics has acquired two medicines; Loxapac® (loxapine) and Parkinane LP® (trihexyphenidyl chloride) which are used to treat psychological disorders and Parkinson’s disease respectively. More specifically:

  • Loxapac®, used in adults and children over 15 for the treatment of acute and chronic psychotic states and states of agitation, aggressiveness and anxiety associated with psychotic disorders of certain short-term personality disorders. Available in France and Algeria.
  • Parkinane LP®, used for the treatment of Parkinson’s disease and neuroleptic-induced parkinsonian syndrome. Available in France and Algeria.

The acquisition of these products adds to CNX Therapeutics’ portfolio of CNS products and further expands their presence across Europe. Acquiring these well-established products also supports CNX Therapeutics’ mission to improve access to medicines that are critical to the well-being of patients.

CNX Therapeutics’ Vice President of Corporate Development, Ben Moore commented, “Through this strategic acquisition we are excited to expand our European footprint – building our presence in the French market. This addition to our portfolio of CNS medicines underscores our commitment to improving the lives of patients suffering from psychiatric and neurological disorders. We are eager to leverage our expertise and resources to maximise the potential of these therapies”.

Under the terms of the agreement, CNX Therapeutics will pay €56.5m to Eisai for the two medicines, excluding inventory and working capital.

Following the signature of the agreement, a transition period has opened during which the required implementation steps will be carried out in order for CNX to become able to operate directly the business, including the regulatory steps for the transfer of the relevant marketing authorisations and exploitant status.

CNX Therapeutics was acquired by Inflexion Private Equity, a leading mid-market private equity firm, in 2021.

CNX Therapeutics was advised on this transaction by Trowers & Hamlins, UGGC Avocats, BDO, Alira Health and Grant Thornton.

Contact: [email protected]