VERNON HILLS, Ill.--(BUSINESS WIRE)--Elorac, Inc. announced today that it has acquired Gideon Pharmaceuticals, Inc. in an all-stock transaction. Gideon Pharmaceuticals’ leading development-stage pharmaceutical products employ its patented Heprotect™ technology, which significantly reduces the hepatotoxicity of hepatocellular toxic agents without interfering with their bioactivity. Among the drugs being developed by Gideon are Heprotect versions of acetaminophen, methotrexate, acitretin and itraconazole, all compounds with established efficacy and side-effect profiles that include liver toxicity.
“We are pleased to have acquired Gideon’s recently patented technology for reducing the hepatotoxicity of certain pharmaceutical agents. Heprotect adds a platform technology with multiple applications to Elorac’s robust development pipeline,” said Jeffrey Bernstein, Ph.D., President and CEO of Elorac.
About Elorac, Inc.
Elorac, Inc. is a privately owned, specialty pharmaceutical company engaged in the development and commercialization of novel products for dermatology, allergy and oncology. The Company markets dermatological products in the United States through its dedicated internal sales force. In addition to the newly acquired Heprotect compounds, Elorac’s development pipeline includes: naloxone lotion for treatment of pruritus accompanying cutaneous T-cell lymphoma, a product with orphan drug and fast-track designations from the U.S. Food and Drug Administration; cidoxepin, a highly potent histamine H1-receptor antagonist being developed for relief of chronic urticaria; and a once-weekly tablet for nodulocystic acne.