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Island Pharmaceuticals Ltd (ASX: ILA) has signed a definitive Asset Purchase Agreement to acquire the Galidesivir antiviral program from U.S.-based BioCryst Pharmaceuticals Inc. (NASDAQ: BCRX), accelerating its growth strategy in infectious disease therapeutics. The deal replaces an earlier Option Agreement following a comprehensive and encouraging due diligence process.
Galidesivir is a broad-spectrum antiviral with a significant development pedigree, supported by over US$70 million in U.S. government R&D funding. Initially developed for RNA viruses, including Ebola and Marburg, Island aims to prioritise the Marburg virus, a Category A bioterrorism threat according to the CDC. The company plans to explore a regulatory approval pathway under the U.S. FDA's Animal Rule, potentially expediting access to a Priority Review Voucher post-approval. Island Managing Director Dr. David Foster described the acquisition as a "transformational opportunity" that significantly enhances the company's antiviral pipeline, complementing its existing ISLA-101 asset.
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