Two pharmaceutical companies, Mpex and Axcan, have entered into an agreement in which Axcan will acquire all of the outstanding shares of Mpex and its lead product candidate, Aeroquin.  An aerosol formulation of levofloxacin, Aeroquin is currently in phase III clinical trials for the treatment of pulmonary infections in patients with cystic fibrosis.

All assets not associated with Aeroquin, including financial and human resources, will be taken from Mpex and used to form a new company.  The new company will remain in San Diego and the former personnel of Mpex will continue to lead the Aeroquin clinical development program in collaboration with Axcan.