Intarcia Acquires Phoundry Pharmaceuticals

Boston, Mass.-based Intarcia Therapeutics has acquired biotechnology company Phoundry Pharmaceuticals. Financial terms were not disclosed.

Phoundry’s portfolio of optimized peptides in various therapeutic categories, including diabetes and obesity, enhances Intarcia’s efforts to build on the clinical success of its Phase 3 investigational therapy, ITCA 650, which is a miniature osmotic pump for treating type 2 diabetes.

The device is an injection-free GLP-1 therapy with the potential to deliver up to a full year of treatment from a single placement, the company says.

Intarcia is a biopharmaceutical company developing therapies to enhance treatment outcomes by optimizing and improving the efficacy, continuous administration and tolerability of drug therapies. — Michael Cipriano