Suneva Medical acquires product portfolio from Spear Pharma

Privately-held US aesthetics company Suneva Medical has acquired an aesthetic product portfolio from Spear Pharmaceuticals. Under the terms of the agreement, Suneva will acquire worldwide rights to Refissa and its marketed generic equivalent.

The portfolio contains the only tretinoin creams with a 0.05% strength, emollient base and broad indication for fine facial lines, hyperpigmentation and tactile roughness. Financial terms of the accord were not disclosed.

Nick Teti, chairman and chief executive of Suneva, commented: “This acquisition is very significant for Suneva on several levels. We are entering the prescription topical aesthetic market, a potential $100 million market opportunity, with a unique basket of products including Refissa, which has the strength, formulation and a broad indication unlike any other tretinoin cream on the market today. This deal also allows us to offer aesthetic physicians a comprehensive anti-aging solution, which includes our ReGenica skincare line, Refissa, the gold standard topical treatment for fine lines and hyperpigmentation and our novel injectable filler, Artefill…This acquisition promises to be a transformational event for the company.”