Odan Laboratories Ltd has acquired Verlyx Pharma Inc. (“Verlyx”), a Montreal based clinical stage Biopharmaceutical company, for the development of its lead compound VLX103 and its analogs in the treatment of gastrointestinal disease. The product’s safety and efficacy is still under investigation and Health Canada has not granted market authorization.
“With the acquisition of Verlyx, Odan continues to expand and diversify its R&D activities,” expressed Howard Kaminsky, President of Odan. “We are confident in the potential of Verlyx’s VLX103 and its analogs to be profitable in the future to Odan.”