Meda inks agreement to acquire ZpearPoint AS

Meda (STO:MEDAA) has signed an agreement to acquire ZpearPoint AS, including global rights to its main product, EB24, an OTC line for treating dental erosion. Dental erosion is a common, growing condition that impacts all ages and for which there is currently no effective treatment. The condition is estimated to affect 15-50% of the population and it is sometimes referred to as the "new caries".

The EB24 product is based on hydrogen fluoride highly diluted in water. In studies, the product has shown that it is able to penetrate enamel surfaces and form calcium fluoride resulting in an anti-erosive effect. As such, EB24 works as a protective agent against dental erosion.

"EB24 will be an important addition to our OTC product portfolio and an excellent complement to CB12," said Jörg-Thomas Dierks, CEO of Meda AB. "The acquisition enables us to continue to build on our OTC offering and adds to future growth."

The EB24 product is expected to be launched in first half of 2015 as a mouth rinse. Patents valid until 2025 have been approved in Europe and are pending in the US. The purchase price will amount up to 77 MSEK over time and is dependent on various milestones such as launch and approvals. Meda will also pay a low, single-digit percentage on sales.