Ember Therapeutics leaps as it acquires Migralex

Ember Therapeutics (OTC: EMBT), a New York-based pharmaceutical company developing targeted therapies for osteoarthritis, kidney fibrosis and other regenerative medicines, has entered into a definitive agreement for the acquisition of Migralex, a commercially available over-the-counter medication for treating pain.

As part of the transaction, financial terms of which were not disclosed, all assets from Migralex Inc will be transferred to Ember Therapeutics, with the news pushing Ember’s shares up more than 18% to $0.65.

“This is our second acquisition this quarter. The addition of a great brand, such as Migralex, to our pipeline will allow us to provide relief to over 150 million Americans suffering from recurrent pain,” said Joseph Hernandez, executive chairman of Ember Therapeutics. “Furthermore, as Migralex is a commercial stage asset, the revenue generated by this product will help further the development of our two Phase III ready clinical programs in osteoarthritis and regenerative medicine,” he added.