The specialty generics business is also looking to gain regulatory approval in multiple global markets
Aspire Pharma Limited, a leading UK provider of niche generic and branded medicines, on Monday, announced that it has successfully acquired Cenoté Pharma as part of the company's ongoing strategy to supplement its organic growth through acquisitions and strategic partnerships.
Cenoté Pharma is a UK-based pharmaceutical company that specialises in addressing carnitine deficiencies. Carnitine is an amino acid derivative whose insufficiency can impair the metabolism of essential tissues, such as those of the liver, heart and muscles.
While the exact prevalence of systemic primary carnitine deficiency (SPCD) remains uncertain and varies depending on ethnicity, the estimated prevalence is 1 in 20,000 to 1 in 70,000 newborns in Europe and the USA, as stated by Aspire Pharma in its press release.
Aspire CEO Richard Condon expressed enthusiasm about the addition of a new therapy area into the company's portfolio. “This acquisition underscores our commitment to advancing the science and treatment options for vulnerable patient groups,” he said.
He also revealed the company’s plan to gain regulatory approval in multiple global markets in the coming times.
As it continues to expand its presence in continental Europe, Aspire is actively seeking bolt-on acquisitions across Germany, Spain and Nordic region as well as partnerships with pharma companies on both in-and out-licensing opportunities.
Keith Williams, managing director at Cenoté Pharma, noted that the integration of these important molecules into the Aspire portfolio will ensure “continuity of care” for this particular group of patients.
However, neither party disclosed the financial terms of the agreement.
Aspire was acquired by an affiliate of H.I.G. Capital, a leading global private investment firm, in 2021.
