Injecting a Kansas startup into its global efforts will help New Jersey-based Adare Pharmaceuticals boost its core business and strengthen in-roads into animal health and over-the-counter (OTC) markets, the companies said Monday.
Orbis Biosciences’ acquisition was finalized Thursday for an undisclosed amount. The startup — which focuses on licensing its technology to companies to optimize their product portfolios through customized formulations and intellectual property — is expected to maintain its operations in Lenexa with integration of the two companies beginning immediately.
The deal “globalizes” the reach of Orbis’ technology, said Maria Flynn, president and CEO of the nearly 12-year-old company.
“Orbis’s focus on precision delivery solutions has enabled us to develop expertise in novel extended-release and pulsatile-release formulations and to collaborate with great partners,” she said. “We are pleased to join Adare, an industry leader in drug formulation development and manufacturing.”
Click here to learn more about Orbis.
Officials at Adare were particularly drawn to the versatility of Orbis’ offerings, said John Fraher, CEO of the New Jersey firm.
“In particular, their platforms create drug particles that can be dosed in oral liquid, injectable, and otic dosage forms,” said Fraher. “These will broaden our product development offerings and ultimately, advance the growth of our contract development and manufacturing organization (CDMO) business, further strengthening our leadership in taste-masking and controlled-release technologies.”
Orbis provides enhanced technologies in a scaled, single-step manufacturing process. It offers the only technology currently on the market that can produce uniform particles in size ranges suitable for use in such variable forms, according to Fraher, noting the platform technology is flexible and customizable to accommodate a broad range of active ingredients, including small molecules, peptides, and proteins.
Adare has developed and manufactured more than 40 products sold by partners in more than 100 countries globally including Lacteol, Zoolac, Viactiv, and a number of branded and complex generic products, the company said.
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