United Therapeutics buys specialty pharmaceutical company SteadyMed

| By | Biotechnologies, Drug Development, Pharmaceutical Deal
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United Therapeutics Corporation and SteadyMed Ltd announced  the signing of a definitive merger agreement under which United Therapeutics will acquire SteadyMed. The transaction is valued at $216 million.

SteadyMed is a specialty pharmaceutical company focused on the development and commercialization of drug product candidates to treat orphan and high-value diseases with unmet parenteral delivery needs. SteadyMed’s product portfolio includes Trevyent, a development-stage drug-device combination product that combines SteadyMed’s two day, single use, disposable PatchPump® technology with treprostinil, a vasodilatory prostacyclin analogue, for the subcutaneous treatment of pulmonary arterial hypertension (PAH). United Therapeutics is a leading biotechnology company focused on the development and commercialization of therapies for the treatment of PAH and other orphan diseases.

United Therapeutics Corporation is a biotechnology company focused on the development and commercialization of innovative products to address the medical needs of patients with chronic and life-threatening conditions.

SteadyMed Ltd. is a specialty pharmaceutical company focused on the development of drug products to treat orphan and high value diseases. The company’s lead drug product candidate is Trevyent, a development-stage drug-device combination product that combines SteadyMed’s PatchPump technology with treprostinil, a vasodilatory prostacyclin analogue to treat PAH. SteadyMed has signed an exclusive license and supply agreement with Cardiome Pharma Corp. for the commercialization of Trevyent in Europe and the Middle East. In March 2018, Cardiome sublicensed its rights to sell Trevyent in Canada to Cipher Pharmaceuticals. SteadyMed has offices in San Ramon, California, USA and Rehovot, Israel.

SOURCE: globenewswire
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