ARTICLE | Company News

Apricus Biosciences, PediatRx Inc. deal

February 6, 2012 8:00 AM UTC

The companies signed a non-binding term sheet for Apricus to acquire PediatRx for about $4 million in stock and the assumption of $675,000 of PediatRx's debt. The deal is subject to approval by both companies boards.

PediatRx also granted Apricus U.S. rights to co-promote chemotherapy-induced nausea and vomiting (CINV) drug Granisol granisetron and xerostomia drug Aquoral. Apricus will also receive exclusive rights to Granisol outside the U.S. PediatRx will receive $325,000 up front, as well as a tiered royalties. PediatRx acquired all the assets associated with Granisol, a generic serotonin (5-HT3) receptor antagonist, from Cypress Pharmaceutical Inc. in 2010. Aquoral is a non-water based formulation of oxidized glycerol triesters (see BioCentury, Nov. 15, 2010). ...