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February 20th, 2008
Tennessee’s Graceway Pharma buys Estrasorb assets
Graceway Pharmaceuticals, a portfolio company of GTCR Golder Rauner, has acquired all of the assets related to Estrasorb (estradiol topical emulsion) in North America from Novavax, Inc. ("Novavax") (NASDAQ:NVAX) and Allergan, Inc. ("Allergan") (NYSE:AGN) . Financial details were not disclosed.
Estrasorb is indicated for the treatment of moderate to severe vasomotor symptoms associated with menopause and is available by prescription only.
The agreements between Novavax and Graceway provide for the sale by Novavax of the patent associated with the product, the sale of other intellectual properties related to Estrasorb.
Graceway will license back to Novavax rights to its micellar nanoparticle technology for application in fields unrelated to Estrasorb. The license is free of royalties.
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