- Acasti Pharma (ACST) has entered into a definitive agreement to acquire emerging biopharmaceutical company Grace Therapeutics
- Grace Therapeutics is focused on developing innovative drug delivery technologies for the treatment of rare and orphan diseases
- Acasti will acquire Grace’s entire therapeutic pipeline consisting
- Grace provides Acasti with a pipeline of rare and orphan disease programs, including 3 clinical stage assets that have received FDA Orphan Drug Designation
- Acasti Pharma is up 25.25 per cent, trading at $0.62 per share at 12:43 pm ET
Acasti Pharma (ACST) has entered into a definitive agreement to acquire emerging biopharmaceutical company Grace Therapeutics.
Grace Therapeutics is a privately-held company focused on developing innovative drug delivery technologies for the treatment of rare and orphan diseases.
Acasti is expected to acquire Grace’s pipeline of drug candidates addressing critical unmet medical needs with the potential to deliver significant value to patients and providers.
The proposed transaction has been approved by the boards of directors of both companies and is supported by Grace shareholders. The transaction remains subject to approval of Acasti stockholders, as well as applicable stock exchanges.
It is anticipated that the cash at closing of about C$64 million will be principally used to pursue the clinical development of the first two assets through Phase 3, and further advance earlier pipeline assets into the clinic.
In connection with the proposed transaction, Acasti will acquire Grace’s entire therapeutic pipeline consisting of three unique clinical stage and multiple pre-clinical stage assets supported by an intellectual property portfolio consisting of more than 40 granted and pending patents in various jurisdictions worldwide.
“We believe that Grace’s assets represent a transformative opportunity for Acasti, as their novel drug delivery technologies used to develop new therapies could improve upon existing compounds with known safety profiles and provide an attractive path to drug development and commercialization.
We believe Grace’s product portfolio has the potential to provide better patient solutions with enhanced efficacy, faster onset of action, reduced side effects, convenient delivery, and increased patient compliance.
For these and other reasons, we are very excited about the therapeutic potential of Grace’s pipeline, and we believe there could be significant international licensing and marketing opportunities for these assets,” said Acasti Chief Executive Officer Jan D’Alvise.
Acasti Pharma is up 25.25 per cent, trading at $0.62 per share at 12:43 pm ET.