Sun Pharmaceutical has announced that its subsidiary, Taro Pharmaceuticals, has entered into an agreement to acquire a 100 per cent stake in Antibe Therapeutics, a clinical-stage biotechnology company based in Ontario, Canada.
The acquisition is expected to be completed before March 7, 2025, subject to approval from the Ontario Superior Court of Justice.
The transaction is part of Sun Pharma’s strategy to expand its pharmaceutical and healthcare portfolio, particularly in the area of pain and inflammation management. Antibe Therapeutics specialises in developing novel drugs focused on reducing pain and inflammation.
Founded in 2009, the company is currently under court-appointed receivership and has reported no revenue for the past three years.
