Market Watch | September 19, 2012
SAN JOSE, Calif., Sep 19, 2012 (BUSINESS WIRE) — Colby Pharmaceutical Company (Colby), a privately held San Jose, CA based biopharmaceutical company, announced that it has acquired Othera Pharmaceuticals Inc. (Othera) of Conshohocken, PA. Financial terms of the transaction were not disclosed. With this acquisition, Colby has amassed a leading portfolio of proprietary small molecule compounds for Nrf-2 regulated diseases characterized by oxidative stress injury.
Colby’s Chief Executive Officer, David Zarling Ph.D. MBA stated, “We look forward to continuing clinical development of OT-551, OT-440 and other related novel and patented small molecules with strong data demonstrating their ability to target oxidative stress related diseases, including cancer and other conditions caused by chronic inflammation.”
“Our merger into Colby gives the combined company a formidable intellectual property portfolio of Nitroxide Tempol- and Tempol-Hydroxylamine-based putative Nrf-2 activating drugs,” said David Joseph, Chief Executive Officer of Othera.