Grünenthal makes US acquisition to expand portfolio for CRPS

17 November 2016

German family-owned drugmaker Grünenthal has announced its recent acquisition of a USA-based clinical-stage, specialty pharmaceutical company.

The company, Thar Pharmaceuticals, is focused on transforming intravenous (IV)-only drugs into oral drugs for existing and new indications using its proprietary technology Enhance development platform. With this acquisition, Grünenthal has obtained the worldwide development and commercialization rights for Thar Pharmaceutical's lead development candidate, T121.

Financial terms of the transaction have not been revealed, but Thar Pharmaceuticals, a spinoff of Thar Technologies, says it has now abandoned its proposed $50 million initial public offering (IPO) – which was filed in August this year - in favor of the acquisition of the company.

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