Taiwan-based Bora Pharmaceuticals announced that its Board of Directors has approved the acquisition of US-based speciality pharmaceutical company Pyros Pharmaceuticals.
Bora is engaged in developing and manufacturing branded, generic and over-the-counter (OTC) healthcare and pharmaceutical products.
Established in 2017, Pyros develops treatments for rare diseases and has recently launched the Vigafyde (vigabatrin) oral solution.
Vigafyde is indicated for the treatment of infantile spasms (IS) in children as young as one month to two years, with potential benefits surpassing the risk of vision loss.
Spasms are characterised by sudden muscle stiffening, and infantile spasms are rare but severe form of epilepsy that pose significant challenges for patients and their families.
In June this year, Vigafyde received the US Food and Drug Administration (FDA) approval and was commercialised in September.
Vigafyde is said to be the first and only premixed ready-to-use vigabatrin oral solution that provides a simple dosing process and enhances the likelihood of accurate dosing.
It also represents a significant advancement in the treatment of infantile spasms as the first new product approved for this condition in 15 years.
Pyros co-founder and CEO Michael Smith said: “We are excited to reach this agreement with Bora, a company that shares our commitment to supporting families navigating the unique challenges of rare diseases and aligns with our mission of elevating the standard of care for these often overlooked and under-supported patient communities.”
Bora’s acquisition of Pyros follows the purchase of Upsher-Smith Laboratories earlier this year and TWi Pharmaceuticals in 2022.
Stifel served as an exclusive financial advisor and Gibson, Dunn & Crutcher as the legal advisor to Bora, while Piper Sandler served as the exclusive financial advisor and Cooley as the legal advisor to Pyros, on this transaction.
Bora Group chairman and CEO Bobby Sheng said: “Pyros’ innovative R&D and deep understanding of the unmet needs of the market, combined with Upsher-Smith’s reputation in the paediatric CNS space, create a powerful alliance that will enhance treatment satisfaction and patient outcomes with vigabatrin.
“Our combined team is committed to educating healthcare providers on the unparalleled value of Vigafyde and its unique benefits for both caregivers and patients alike.”
