Elorac acquires Gideon Pharmaceuticals

VERNON HILLS - Elorac, Inc. announced it has acquired Gideon Pharmaceuticals Inc. in an all-stock transaction.

Gideon Pharmaceuticals' development-stage pharmaceutical products employ its patented Heprotect technology, which significantly reduces the hepatotoxicity of hepatocellular toxic agents without interfering with their bioactivity. Among the drugs being developed by Gideon are Heprotect versions of acetaminophen, methotrexate, acitretin and itraconazole, all compounds with established efficacy and side-effect profiles that include liver toxicity.

"We are pleased to have acquired Gideon's recently patented technology for reducing the hepatotoxicity of certain pharmaceutical agents. Heprotect adds a platform technology with multiple applications to Elorac's robust development pipeline," said Jeffrey Bernstein, Ph.D., President and CEO of Elorac.

Elorac is a privately owned, specialty pharmaceutical company engaged in the development and commercialization of novel products for dermatology, allergy and oncology.