Boulder cancer care firm bought for $20M
Rachel Brand, Rocky Mountain News
Published October 13, 2006 at midnight
A Boulder cancer care company has been bought by Pennsylvania-based Endo Pharmaceuticals Holdings Inc. for an initial payment of $20 million.
RxKinetix could net another $95 million if its products meet regulatory and clinical targets.
The 21-employee, privately held company has been quietly developing a medication to stave off one of the painful side effects of radiation treatment.
Oral mucositis, as the disease is called, is a condition that causes ulcers to develop in the mouth of patients undergoing radiation or chemotherapy.
RxKinetix, founded on technology licensed from the University of Colorado, makes a medication-laced mouthwash that aims to prevent the condition. The drug is currently in phase II clinical trials.
The company will become a wholly owned subsidiary of Endo, which specializes in pain management products.
"The acquisition of RxKinetix is consistent with our strategic goal of expanding into therapeutic areas that are complementary to pain," said Peter A. Lankau, president and chief executive officer of Endo.
Harry Ross, CEO of RxKinetix, could not be reached for comment.
The company has received at least $26 million in venture funding, primarily from Aweida Venture Partners.
brandr@RockyMountainNews.com or 303-954-5269
Featured
-
DNC in Denver
Complete coverage of the 2008 Democratic National Convention.
-
The Crevasse
A five-part series that examines one tragic day on Mount Rainier.
-
Deadly denial
Sick nuclear workers applied for government compensation but most haven't seen a dime.
-
Final Salute
The Rocky followed Maj. Steve Beck as he took on the most difficult duty of his career.
-
'Colorado's burning'
Coverage of the state's worst wildfires.
-
Columbine shootings
Coverage of the April 20, 1999, shootings at Littleton's Columbine High School.
-
The Crossing
Colorado's deadliest traffic accident killed 20 children on Dec. 14, 1961.
-
Osveli's journey
Osveli Sales left Guatemala for a better life. Two months later, he came home in a box.
-
Wake for an Indian warrior
Oglala Sioux bestow a tribute to the first tribal fatality in Iraq.
