CutisPharma Acquires Silvergate Pharmaceuticals to Form Azurity Pharmaceuticals, Accelerating Development and Commercialization of Oral Liquid Medicines

VCBeat (WeChat ID: vcbeat) has learned that biopharmaceutical company CutisPharma recently announced the acquisition of Silvergate Pharmaceuticals, with the two entities merging to form a new company named Azurity Pharmaceuticals. Specific terms of the transaction were not disclosed.

In this acquisition, NovaQuest Capital Management, the majority shareholder of Azurity Pharmaceuticals, provided support to CutisPharma and its management team. Goldman Sachs Specialty Lending Group, acting as lender, continued to support the newly formed Azurity Pharmaceuticals and arranged debt financing for the acquisition.

CutisPharma, founded in 1998 in Wilmington, Massachusetts, is an industry leader in the pharmaceutical compounding market, dedicated to developing superior oral liquid medications for patients who are unable to take solid tablets and capsules.

Silvergate, founded in 2010 and headquartered in Greenwood Village, Colorado, USA, is dedicated to the development and commercialization of pediatric medications, providing patients with greater dose accuracy, safety, and usability.

It is understood that Azurity Pharmaceuticals, formed through a merger, is a privately held specialty pharmaceutical company. The management team of Azurity Pharmaceuticals will consist of leaders from the CutisPharma and Silvergate Pharma teams. The headquarters and manufacturing facilities of Azurity Pharmaceuticals will be located in Woburn, Massachusetts, and Wilmington, Delaware, respectively, with its research and development center situated outside Kansas City.

Azurity Pharmaceuticals’ business focus is primarily centered on meeting the needs of diverse patient populations, particularly children and the elderly. The company’s current product portfolio includes Epaned (enalapril maleate) oral solution, Qbrelis (lisinopril) oral solution, Xatmep (methotrexate) oral solution, FIRVANQ (vancomycin hydrochloride) oral solution, and the FIRST Combination Kit.

Both companies achieved multiple key milestones prior to the merger. In early 2018, CutisPharma’s oral solution FIRVANQ (vancomycin hydrochloride) received FDA approval for marketing to treat diarrhea caused by Clostridioides difficile; Silvergate submitted a New Drug Application (NDA) for its lead pipeline candidate, SG-05. Currently, Azurity Pharmaceuticals offers customers a comprehensive portfolio of 12 products spanning multiple therapeutic areas.

Neal I. Muni, CEO of Azurity Pharmaceuticals, stated, “I am pleased to announce the combination of two strong companies. Azurity’s mission is to provide safe, high-quality therapies for patients requiring customized formulations, and I am confident that we can meet the needs of many underserved patient populations, such as children and the elderly.”

(Compiled by: Li Chengping)