Blue Water Biotech (NASDAQ:BWV) signed asset purchase agreements with WraSer and Xspire Pharma to acquire six FDA-approved assets across multiple indications, including cardiology, otic infections, and pain management.
Under the accord, Blue Water will purchase the WraSer assets for $8.5- million payable in three tranches. WraSer also will receive one million restricted shares of Blue Water’s common stock on the closing date. Xspire Pharma is a subsidiary of Legacy-Xspire Holdings.
The assets under the agreement include the patents related to ZONTIVITY, a medication for the reduction of thrombotic cardiovascular events in patients with a history of myocardial infarction or with peripheral arterial disease, as well as additional products for the treatment of hypertension, otitis media, and pain management. Nearly 2,200 patients have been treated with ZONTIVITY for more than three years.
This agreement also includes the purchase of licenses to market and distribute two antibiotic otic products, OTOVEL and CETRAXAL, and their authorized generics currently marketed and distributed by WraSer.
In addition to ZONTIVITY and the otic products, Blue Water will purchase the licensed rights to market and distribute CONJUPRI, a calcium channel blocker that can be used alone or in combination with other antihypertensive agents for the treatment of hypertension to lower blood pressure.
Blue Water also will acquire two pain medications, TREZIX for the treatment of moderate-to-moderately severe pain for which non-opioids are inadequate, and NALFON, for relief of mild-to-moderate pain in adults, as well as relief of the signs and symptoms related to rheumatoid arthritis and osteoarthritis.
“In recent months, we have invested significant efforts to build our corporate infrastructure to support our transition into a commercial-stage company, including key hires with extensive experience in commercial operations,” Joseph Hernandez, chairman and CEO of Blue Water, said in a statement.
“We are confident that bringing these assets into our portfolio will strengthen Blue Water’s financial position, allow us to advance our robust vaccine pipeline, and help millions of patients around the world receive proper access to critical treatments,” he added.
