Acquisition of Brain Therapeutics with operations in Greece, Cyprus and the Balkan countries
Dusseldorf and Barcelona, March 8th, 2022 - Neuraxpharm Group (Neuraxpharm), a leading European specialty pharmaceutical company focused on the central nervous system (CNS), today announces the expansion of its business in Southeast Europe through the acquisition of Brain Therapeutics, a CNS-focused marketing and distribution company with longstanding expertise in commercialization of CNS products in Greece, Cyprus and the Balkan countries.
Headquartered in Athens, Brain Therapeutics specializes in the in-licensing and commercialization of pharmaceutical products in the CNS therapy area to address the unmet medical needs of patients with mental, neurological, neurodevelopmental or neurodegenerative disorders, as well as anesthesia and pain.
Having acquired Brain Therapeutics, Neuraxpharm is now able to bring new products to the Greek market since the platform offers a unique level of local market access. The commercial expertise of Brain Therapeutics and the availability of necessary licenses for the broad product portfolio will enable Neuraxpharm to expand its offering rapidly and build on its position as a CNS specialist in Southeast Europe. The market-leading product for emergency treatment of children and adolescents with epilepsy, Buccolam®, will be among the products to be offered.
Neuraxpharm continues to demonstrate its growth momentum. The company has expanded its activities from two to 19 European countries in the past five years with five of those countries added in the last 12 months. The Greek CNS market, which grew at 4% in 2020(1), represents a great opportunity for Neuraxpharm to further broaden the company’s footprint in Europe. With today’s announcement, Neuraxpharm once again reinforces its strategy to offer a wide variety of first-class CNS products in a growing number of countries and thereby emphasizes the company’s commitment to patients and healthcare professionals.
Commenting on the transaction, Dr. Jörg-Thomas Dierks, CEO of Neuraxpharm, said: "The acquisition of Brain Therapeutics will significantly strengthen our successful activities in the commercialization of CNS products in Greece, Cyprus and the Balkan countries. We are excited to be able to supply patients in Southeast Europe with our products more efficiently in future. This acquisition brings us one step closer to our goal of addressing the unmet medical needs of CNS patients across Europe."
George Pavlakis, Founder of Brain Therapeutics, added: "We are delighted to become part of a leading European CNS player and look forward to working with the dynamic, experienced and high performing team at Neuraxpharm. We are excited about our future with the Neuraxpharm Group and the opportunity to contribute our expertise in the CNS field. Together, we will be able to provide further innovative CNS products to patients in Greece and Southeast Europe."
George Pavlakis will be the General Manager of Neuraxpharm in Greece and other geographically neighboring countries that will gradually join the commercial area.