OTTAWA, June 14, 2018 (GLOBE NEWSWIRE) -- Orion Biotechnology Canada Ltd., a developer of novel medicines, today announced the acquisition of K2Biomedical, a specialty pharmaceutical research company based in Cracow, Poland. The acquisition will add drug development capabilities to Orion Biotechnology in Europe.
Founded in 2015, K2Biomedical was initially focused on the prevention of Sexually Transmitted Infections (STIs), including HIV. With this acquisition K2Biomedical becomes Orion Biotechnology Poland SP. Z O.O. The new entity will continue to be headquartered in the Jagiellonian Centre of Innovation in Cracow (Malopolska), Poland, focused on developing new technologies and product candidates for the global market.
"This transaction marks an important milestone for Orion Biotechnology and our stakeholders," said Mark Groper, CEO, Orion Biotechnology Canada. "The team at K2Biomedical bring critical capabilities that will help us accelerate development of our new technologies."
Anatole Klepasky, COO, Orion Biotechnology added, "We are thrilled to add such a capable team to our organization. They will further enhance our capacity to advance our pipeline of drug candidates in the field of oncology, neuroinflammatory disorders, as well as HIV prevention."
Adam Koprowski, General Director of Orion Biotechnology Poland SP. Z O.O added, "Access to the expertise and resources of Orion Biotechnology Canada will improve our company's capabilities to conduct upcoming R&D projects."
About Orion Biotechnology Canada, Ltd.
Orion Biotechnology Canada Ltd, is a privately held pharmaceutical company which is developing a range of novel medicines aimed at successful treatment and prevention of the most serious illnesses and life-threatening diseases. Since 2011, Orion has been developing a robust pipeline of potential products based on innovations from different parts of the world. Our close ties to diverse institutions and experts around the globe continue to stimulate the rapid discovery of promising new treatments. With operations in North America, Europe and Asia, Orion brings together innovative technologies from some of the world's leading research institutions such as the Mintaka Research Foundation and the Center for Public Health Research at Nanjing University. Learn more at www.orionbiotechnology.com.
This press release contains forward-looking information, which reflects Orion's current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Orion's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. These forward-looking statements are made as of the date of this press release and, except as expressly required by applicable law, Orion assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Contact: Ross MacLeod
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Source: Orion Biotechnology Canada Ltd via Globenewswire