Acquisition Builds Aspire’s Strategic Commitment
Petersfield, Hampshire, 11 March 2024, Aspire Pharma Limited, a rapidly growing specialty generics business, continues to supplement its strong organic growth with acquisitions and strategic partnerships with the successful completion of its acquisition of Cenoté Pharma Ltd.
Cenoté Pharma is a category specialist in 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. The exact prevalence of systemic primary carnitine deficiency (SPCD) is unknown and varies depending on ethnicity. The estimated prevalence is 1 in 20,000 to 1 in 70,000 newborns in Europe and the USA.1
Disease onset typically occurs in infancy between the ages of 3 months to 2 years. Infants often present with hypoketotic hypoglycaemia, poor feeding, irritability, lethargy and hepatomegaly, triggered by fasting, stress or common illnesses including gastroenteritis and respiratory tract infections. The prognosis is extremely good as long as oral carnitine supplementation is maintained.1
“We are excited to bring an additional therapy area into our portfolio at Aspire. This acquisition underscores our commitment to advance the science and treatment options for vulnerable patient groups”, said Richard Condon, Chief Executive Officer of Aspire. “The company is also looking to gain regulatory approval in multiple global markets in the near future.”
As the Company continues to expand its presence in continental Europe, it 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 added, “We are delighted to be supporting Aspire as we integrate these important molecules into the Aspire portfolio, to ensure continuity of care for this important group of patients.”
Additional Transaction Details
No terms of the financial agreement were disclosed by either party.
References
- Orphanet. Systemic primary carnitine deficiency. Available at: www.orpha.net. (Last accessed: 16 February, 2024)
