Organon (NYSE: OGN) has acquired Forendo Pharma, a clinical-stage drug development company. Forendo focuses on treatments in women’s health and the pioneering of intracrinology, addressing disease through novel, tissue-specific approaches.
Forendo’s flagship compound is a hydroxysteroid dehydrogenase type 1 (HSD17B1) inhibitor in early clinical development for endometriosis and its potential effect on endometriotic lesions. In addition, Forendo offers a preclinical program targeting polycystic ovarian system, hyperandrogenism and infertility.
The consideration for the transaction includes an upfront payment of $75 million, the assumption of nearly $9 million of Forendo debt and additional development and commercial milestones totaling of up to $954 million.
“Organon is dedicated to delivering medically significant women’s healthcare interventions, prioritizing disease areas based on her unmet needs,” said Kevin Ali, Organon CEO. “Our acquisition of Forendo further demonstrates our commitment to building a pipeline of impactful treatment options for women with unmet medical needs.”