Smith Anderson client Azurity Pharmaceuticals of Boston has acquired Atlanta-based Arbor Pharmaceuticals from existing investors, creating a leading company offering innovative, high-value drug therapies that will meet the unique needs of patients with underserved conditions.
As reported in The Deal, NovaQuest-backed Azurity bought Arbor from investors including JW Asset Management and KKR.
According to Azurity’s press release, the combined company, operating as Azurity, will have a portfolio of products serving the unmet needs of patients in the cardiovascular, central nervous system, endocrinological, gastrointestinal and institutional markets. The transaction will build upon each company’s legacy of success through a portfolio of 10 exclusively promoted, FDA-approved, branded products, more than 30 total commercialized products and a robust pipeline of mid- and late-stage products under development.
"The combination of the two companies, each steeped in rich legacies, will create a one-of-a-kind company leveraging increased scale and diversification, a breadth of dosage forms, integrated capabilities, and expanded market presence to better serve our patients’ needs," said Amit Patel, Chairman and CEO of Azurity.
Smith Anderson client NovaQuest Private Equity, a leading investor in technology and services companies in the life sciences and healthcare sectors, will maintain its partnership with Azurity to support the continued growth of its portfolio of products.
The Smith Anderson legal team advising Azurity in the merger was led by attorneys Byron Kirkland, Justin Truesdale, James Jolley and Will Robinson and was a collaborative effort with support from the firm’s Private Equity practice group, including Miranda Miller, and the firm’s Finance team, including Bart Norman and Tricia McNeill. Smith Anderson’s Mergers and Acquisitions practice is the sole firm in Raleigh, Greensboro and the surrounding area recognized as "Band One" in Chambers USA: America's Leading Lawyers for Business, the highly-regarded publication’s best ranking.
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