Odan Laboratories Ltd has acquired Ilkos Therapeutic Inc. (“Ilkos”), a Montreal based clinical stage Biopharmaceutical company, for the development of its lead compound S42909 in the area of wound and ulcer treatment. The product’s safety and efficacy is still under investigation and Health Canada has not granted market authorization.
“With the acquisition of Ilkos, Odan once again continues to expand and diversify its R&D activities,” expressed Howard Kaminsky, President of Odan. “We are confident in the potential of Ilkos’s S42909 compound to be profitable in the future to Odan.”