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Ovoca Bio Acquires Remaining 40% Interest in IVIX to Accelerate Development of Treatment for HSDD
Thursday 26 March 2020

26 March 2020 - Ireland-based women-focussed biopharmaceutical company Ovoca Bio has agreed to acquire the remaining 40% of shares in Russia-based IVIX LLC for a total cash consideration of RUB 354m (USD 5m), the company said.
Pursuant to the acquisition, Silver Star Ltd., Ovoca's wholly owned subsidiary, has acquired the interest that it does not already own directly in the charter capital of IVIX held by Bioprocess Capital Ventures.
The acquisition was funded from the existing cash resources available to Silver Star Ltd.
IVIX is the developer of BP-101, a novel medicinal treatment for premenopausal women with hypoactive sexual desire disorder a condition characterised by a distressing lack or loss of sexual desire in women.
In September 2018, Ovoca completed the acquisition of a 50.02% participation interest of IVIX, a Russian incorporated biopharmaceutical company, for a cash consideration of approximately USD 4.1m.
As a result of the acquisition, Ovoca refocussed its core business on biotechnology and particularly the continued development and commercialisation of BP-101.
In March 2019, Ovoca exercised its right to acquire a further participation interest for approximately USD 2m, whereby the company increased its holding to a 59.9% interest in the charter capital of IVIX.
In September 2019, the company announced the submission of a marketing authorisation application for BP-101 with the Russian Ministry of Health.
If approved, BP-101 could be available for marketing in the Russian Federation towards the end of 2020.
The company has also established international operations in preparation for commencement of a dose ranging study in a western population.
This Phase II study is expected to further validate the results of the Russian studies and, with completion of the concurrent preclinical studies, meet the requirements of US and EU regulators.
Date Published: 26/03/2020