The Medicines Company buys Annovation Biopharma and with it ABP 700

The Medicines Company announced that it has completed its acquisition of all of the outstanding equity of Annovation Biopharma, Inc., a company focused on creating more effective, safer therapies for anesthesia and critical care. Based on technology licensed from Massachusetts General Hospital, Annovation is developing ABP-700, a novel intravenous anesthetic which in Phase 1 clinical studies has demonstrated potent and rapidly reversible anesthetic effects.Currently, ongoing clinical studies have expanded for ABP-700 and additional clinical trials are expected to launch in the second half of this year. The company and its principal investigators expect to present data from the completed Phase 1 trials this autumn.