Algeta

Algeta was a Norwegian biopharmaceutical company headquartered in Oslo and focused on cancer treatments based on radioactive isotopes. Founded in 1997, it later became listed on the Oslo Stock Exchange. Its best-known development was radium-223 dichloride, marketed as Xofigo. The medicine uses alpha-particle radiation from radium-223 to target bone metastases and was developed with Bayer for use in patients with metastatic castration-resistant prostate cancer involving the bones. Bayer proposed acquiring Algeta in 2013, and the transaction was completed in 2014. Algeta subsequently became part of Bayer and ceased operating as an independent listed company. The brand is chiefly associated with its radiopharmaceutical research platform and Xofigo rather than with consumer-facing pharmaceutical products.

Algeta was founded in 1997 as a biopharmaceutical company headquartered in Oslo, Norway. Its research focused on applying radioactive isotopes to cancer treatment. The company developed a platform around targeted radiopharmaceuticals and investigated candidates for cancers involving bone metastases. Its most important achievement was radium-223 dichloride, marketed as Xofigo. By emitting alpha particles, the treatment acts near bone metastases and became the central product of Algeta's development and commercialization partnership with Bayer. In 2013, Bayer announced a proposed acquisition of Algeta. After the required approvals, the transaction was completed in 2014. Algeta then became part of Bayer and ceased to operate as an independent listed company. Its principal research and product assets were subsequently carried forward within Bayer.

• 2014

  Acquisition completed

  [1]Bayer completes acquisition of Algetabayer.com

  Bayer completed the acquisition of Algeta, and Algeta ceased to operate as an independent listed company.

• 2013

  Bayer announces acquisition

  [5]Bayer announces acquisitionbayer.com

  Bayer announced its acquisition of Algeta to gain its radiopharmaceutical business and rights related to Xofigo.

• 1997

  Company founded

  [4]Company foundedbayer.com

  Algeta was founded in Norway, with a focus on radiopharmaceuticals and cancer therapy.

A biopharmaceutical company focused on radiopharmaceuticals and cancer therapy

• Radiopharmaceutical · 2013

  Xofigo

  Xofigo is a radium-223 radiopharmaceutical primarily used for patients with castration-resistant prostate cancer involving bone metastases. It was Algeta's best-known product and was developed and commercialized in partnership with Bayer.

• 2014

  Accepting Bayer's acquisitionM&A

  Background

  Bayer sought to expand its oncology and radiopharmaceutical business, and Algeta owned Xofigo and related R&D assets.

  Action taken

  Bayer completed the acquisition of Algeta, and Algeta was integrated into Bayer.

  Aftermath

  Algeta ceased to operate as an independent listed company, and its core business was taken over by Bayer.

  Source

1. 1Bayer completes acquisition of Algetabayer.com
2. 2FDA approves new treatment for certain patients with advanced prostate cancerfda.gov
3. 3Algeta ASA Annual Report 2013annualreports.com
4. 4Company foundedbayer.com
5. 5Bayer announces acquisitionbayer.com