Singapore: Novartis has announced that it has entered into an agreement to acquire Spinifex Pharmaceuticals, a US and Australia-based, privately held development stage company, focused on developing a peripheral approach to treat neuropathic pain such as EMA401, a novel angiotensin II Type 2 receptor (AT2R) antagonist.

"Neuropathic pain is a chronic and debilitating condition with high unmet need. EMA401 could provide a novel, differentiated treatment approach to provide relief for patients and healthcare providers worldwide," said Mr David Epstein, Head of Novartis Pharmaceuticals.

Positive results from Spinifex's Phase II clinical trial of EMA401 in post-herpetic neuralgia, a painful condition that develops in some people following herpes zoster (shingles), have been published in The Lancet, showing its efficacy. No central nervous system side effects or any serious adverse events have been observed in the study.

Financial terms of the transaction were not disclosed.