Bora Pharmaceuticals acquires Pyros Pharmaceuticals

Bora Pharmaceuticals announced that its board of directors has approved the acquisition of U.S.-based Pyros Pharmaceuticals, a specialty pharmaceutical company that develops treatments for rare diseases.

Founded in 2017 by Michael Smith and Edwin Urrutia, Pyros recently launched Vigafyde (vigabatrin) oral solution, which is indicated as monotherapy for the treatment of infantile spasms in pediatric patients 1 month to 2 years.

Vigafyde is the only ready-to-use vigabatrin oral solution and represents a significant advancement in the treatment of infantile spasms as the first new product approved for this condition in 15 years. As the only premixed, ready-to-use vigabatrin formulation, Vigafyde offers patients and caregivers a simpler dosing process and enhances the likelihood of accurate dosing. Vigafyde was approved by the Food and Drug Administration on June 17, 2024 and became available to patients in September 2024.

[Read more: Bora Pharmaceuticals to acquire Upsher-Smith for $210M]

This acquisition follows Bora's recent purchase of Upsher-Smith earlier this year and TWi Pharmaceuticals in 2022. These moves mark Bora's rapid growth into a global competitor in both the contract development and manufacturing and commercial prescription sectors.

"We see incredible synergies between Upsher-Smith and Pyros," said Bobby Sheng, chairman and CEO of Bora Group. "Pyros' innovative R&D and deep understanding of the unmet needs of the market, combined with Upsher-Smith's reputation in the pediatric CNS space, create a powerful alliance that will enhance treatment satisfaction and patient outcomes with vigabatrin."

Michael Smith, co-founder and CEO of Pyros said, "We are excited to reach this agreement with Bora, a company that shares our commitment to supporting families navigating the unique challenges of rare diseases and aligns with our mission of elevating the standard of care for these often overlooked and under-supported patient communities."

Sheng added, "Our combined team is committed to educating healthcare providers on the unparalleled value of Vigafyde and its unique benefits for both caregivers and patients alike."

[Read more: Upsher-Smith, NASPA recognize 47 pharmacists with 2022 NASPA Excellence in Innovation Award]

For Bora, Stifel is acting as exclusive financial advisor, and Gibson, Dunn & Crutcher is acting as legal advisor in this transaction. For Pyros, Piper Sandler is acting as exclusive financial advisor and Cooley is acting as legal advisor.