The Cypress business deal was made with an acquisition wherein Proprius Pharmaceutical Inc. was acquired by Cypress BioScience Inc. The declaration was made on February 26, 2008. The Cypress business deal was valued at 37.5 million.
As a result of this merger, the treatment of fibromyalgia as well as rheumatoid arthritis (RA) will be accomplished by both companies. Cypress Bioscience and Proprius are both involved in drug developments and diagnostic technologies.
The two companies, in their own fields of expertise, will employ their own methods of treatment which will be shared between the two. It is anticipated that it would be of immense help to the doctors treating patients with RA as well as fibromyalgia.
Usefulness of the Cypress business deal
Because of the Cypress business deal, there is a fusion of the expertise Cypress employed in the development of drugs and various commercial resources. Included in this is Milnacipran, which is used for the treatment of fibromyalgia, and was, until now under the review of US Food & Drug Administration.
Propius Pharmaceuticals is engaged in employing a number of technologies for the treatment and detection of RA or rheumatoid arthritis. Due to the business deal, the new firm may assist medical professionals or doctors in meeting various medical requirements related to fibromyalgia as well as rheumatoid arthritis, which have not been met as yet.
A profile of Cypress BioScience Inc:
Cypress BioScience Inc. is responsible for the development as well as commercialization of customized medical services. It also commercializes several pharmaceutical products which support medical professionals to address unattended aspects of RA as well as fibromyalgia. For years, Cypress has had strategies pertaining to potential transactions in acquiring pharmaceutical firms, pharmaceutical products, as well as technical know-how related to pharmaceuticals.
Profile of Propius Pharmaceuticals
Propius Pharmaceuticals applies several technologies “predictive”, “diagnostic” or “prognostic” in nature so that it can furnish “actionable” details to the doctors taking care of patients with RA or rheumatoid arthritis.