Circassia to acquire US and Chinese rights to AirNOvent in $32.5 million deal

24 January 2019

UK specialty pharma firm Circassia Pharmaceuticals (LSE: CIR) has entered into a definitive agreement to acquire the exclusive commercialization rights from AIT Therapeutics (OTCMKTS: AITB) to its ventilator compatible nitric oxide product, AirNOvent, a treatment for persistent pulmonary hypertension (PPHN) of the newborn, in the USA and China.

News of the deal saw Circassia’s edge up 2% to 51.00 pence by late morning trading.

AIT anticipates applying to the US Food and Drug Administration for Premarket Approval (PMA) for AirNOvent in second-quarter 2019 for use in the treatment of PPHN, and the company anticipates launching the product in the first half of 2020, once approved. Subsequently, AIT plans to seek a label extension for the product’s use in a related indication.

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