Blue Water will acquire Zontivity, Trezix, Nalfon, Conjupri, Otovel and Cetraxal, which are approved by the US Food and Drug Administration (FDA), for indications across cardiology, otic infections, and pain management
Blue Water to buy six drugs from WraSer. (Credit: Roberto Sorin on Unsplash)
US-based biopharmaceutical company Blue Water Biotech has agreed to buy six drugs from WraSer and Xspire Pharma, collectively known as WraSer, for $8.5m in cash.
The six drugs (WraSer assets) include Zontivity (vorapaxar), Trezix (acetaminophen-caffeine-dihydrocodeine), Nalfon (fenoprofen calcium), Conjupri (levamlodipine), Otovel (ciprofloxacin and fluocinolone acetonide) and Cetraxal (ciprofloxacin).
All six drugs are approved by the US Food and Drug Administration (FDA) for indications across cardiology, otic infections, and pain management.
Under the terms of the agreement, Blue Water will obtain rights to all six drugs and pay the total consideration in three tranches.
The first tranche has been paid at signing, with the second one planned to be paid upon closing and the final tranche within a year of closing.
In addition, WraSer will receive one million restricted shares of Blue Water’s common stock.
The closing of the transaction is subject to certain customary closing conditions.
Blue Water chairman and CEO Joseph Hernandez said: “The team at WraSer has developed a strong pipeline across cardiology, otic products, as well as pain management, and we are thrilled to add these assets to our portfolio at Blue Water.
“In recent months, we have invested significant efforts to build our corporate infrastructure to support our transition into a commercial-stage company, including key hires with extensive experience in commercial operations.
“We are confident that bringing these assets into our portfolio will strengthen Blue Water’s financial position, allow us to advance our robust vaccine pipeline, and help millions of patients around the world receive proper access to critical treatments.”
Zontivity is a medication indicated for the reduction of thrombotic cardiovascular events in patients with a history of myocardial infarction (MI) or peripheral arterial disease (PAD).
Otovel is used to treat acute otitis media (AOM) in children aged six months and above, who have tympanostomy tube inserted in their eardrum to prevent excess fluid in the middle ear.
It is an antibiotic and steroid ear drop that contains an antibiotic to treat the infection, and an anti-inflammatory to reduce pain and swelling, and is available in single-use vials.
Cetraxal is an otic solution for the treatment of otitis externa, more commonly called swimmer’s ear, in children with intact tympanic membrane.
Conjupri is a calcium channel blocker that can be used alone or in combination with other antihypertensive agents to treat hypertension to lower blood pressure.
Trezix is a pain medication used for the treatment of moderate to moderately severe pain which cannot be treated using non-opioids.
Nalfon is used for the relief of mild to moderate pain in adults, along with symptoms related to rheumatoid arthritis and osteoarthritis.
WraSer CEO Greg Stokes said: “Our products have been developed to provide patients with life-changing, and potentially life-saving, treatments, and we are happy to partner with Blue Water to continue this mission.
“Their management team has extensive experience with commercial products across a wide range of treatment areas, and we look forward to supporting them through this transition, as well as seeing the continued success of these products for patients in need.”