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CTX Technology Acquires Convoy Therapeutics Drug Delivery Assets.

MANews-(C)2009-2015

5 August 2015 - US-based technology developer CTX Technology Inc. has acquired the intellectual property, formulations and related data of Convoy Therapeutics Inc., the company said.

Built on peptide-based skin-penetration platform technology developed in the laboratory of Samir Mitragotri, PhD, at the University of California Santa Barbara, the Convoy Therapeutics assets include proprietary formulations for both therapeutic and aesthetic applications.

According to CTX, the proprietary peptide platform technology is uniquely capable of transporting small and large molecules, with a wide range of molecular weights, including biologics, into the skin and ensuring that they remain at the site of local placement.

Terms of the deal were not disclosed.

Of the proprietary formulations acquired, Khalay HATM, a formulation of hyaluronic acid, is used in aesthetic applications. Cyclopsorb is a disease-modifying therapeutic that targets mild-to-moderate psoriasis.

Both formulations utilise the CTX peptide-based skin-penetration platform technology.

CTX will commercialise the existing proprietary formulations through focused partnerships, continue to work on new applications and out-license the platform technology for the therapeutic and aesthetic markets.

Country: USA

Sector: Biotechnology

Target: Convoy Therapeutics Inc

Buyer: CTX Technology Inc

Vendor:

Deal size in USD:

Type: Corporate Acquisition

Financing:

Status: Closed

Buyer advisor: , ,

Comment: Terms of the deal were not disclosed

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Publication:M & A Navigator
Date:Aug 5, 2015
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