Aspire Pharma acquires Cenoté Pharma
Betsy Goodfellow | March 11, 2024 | News story | Business Services | Aspire Pharma, Cenoté Pharma, Pharmacy, acquisition
Aspire Pharma has announced that it has successfully acquired Cenoté Pharma as part of its plan to supplement its growth using various acquisitions and strategic partnerships.
This acquisition marks the fourth that Aspire Pharma has undertaken since it was acquired by an affiliate of HIG Capital in 2021. It is intended to strengthen the company’s specialty pharma offering.
Cenoté is a specialist in carnitine deficiencies; carnitine is ‘an amino acid derivative whose insufficiency can impair the metabolism of essential tissues, such as those of the heart and muscle’, according to the press release. The prevalence of systemic primary carnitine deficiency (SPCD) is unknown, and appears to vary depending on factors such as ethnicity, however it is estimated at one in 20,000 to one in 70,000 newborns in Europe and the US.
Richard Condon, chief executive officer of Aspire Pharma, commented: “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. With Aspire’s capabilities, we will also push to gain regulatory approval in multiple global markets in the near future.”
Betsy Goodfellow
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