The Australian sexual health manufacturer Sasmar Pharmaceuticals has bought out Boston-based biotech Aquatrove Biosciences as it looks to expand its portfolio and pipeline more deeply into reproductive health and fertility.
Under the terms of the agreement, Sasmar, through its Australian-based holding (its formal headquarters is in Belgium), has acquired all stock in the privately held Aquatrove in exchange for an upfront payment of cash--although the exact amount has been kept under wraps.
“Like many pharmaceutical companies Sasmar is seeking biotechnology acquisitions to bolster product pipelines,” Sasmar said in a statement.
This investment is designed to strengthen its position in the OTC market in health, fertility and reproduction. The pharma co’s president and CEO, John-Michael Mancini, said: “The acquisition captures the capability and knowhow built up over many years by the specialized team at Aquatrove and facilitates the realization of our plans for growth moving forward.”
The two companies already have a long history, given that back in 2008, Sasmar first sold an Aquatrove-patented formulation on a lubricant designed to help reduce the risks to fertility while attempting to conceive.
- check out the release
Related Article:
Gilead steps in to replace AbbVie with $2B Galapagos collaboration