M&A Deal Summary

Sorrento Therapeutics and SCILEX Pharmaceuticals Acquire Aardvark Therapeutics - ARD-301

On March 1, 2021, Sorrento Therapeutics and SCILEX Pharmaceuticals acquired life science company Aardvark Therapeutics - ARD-301 from Aardvark Therapeutics

Acquisition Highlights
  • This is Sorrento Therapeutics’ 7th and SCILEX Pharmaceuticals’ 1st transaction in the Life Science sector.
  • This is Sorrento Therapeutics’ 7th and SCILEX Pharmaceuticals’ 1st transaction in the United States.
  • This is Sorrento Therapeutics’ 4th and SCILEX Pharmaceuticals’ 1st transaction in California.

M&A Deal Summary

Date 2021-03-01
Target Aardvark Therapeutics - ARD-301
Sector Life Science
Buyer(s) Sorrento Therapeutics
SCILEX Pharmaceuticals
Sellers(s) Aardvark Therapeutics
Deal Type Divestiture

Target

Aardvark Therapeutics - ARD-301

San Diego, California, United States
Aardvark Therapeutics' ARD-301 proprietary formulation Delayed Burst Release Low Dose Naltrexone (DBR-LDN) used for the treatment of chronic pain, fibromyalgia, and chronic post-COVID syndrome. Aardvark Therapeutics' ARD-301 is based in San Diego, California.

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Buyer(S) 2

Buyer

Sorrento Therapeutics

San Diego, California, United States

Category Company
Founded 2006
Sector Life Science
Employees949
Revenue 63M USD (2022)
DESCRIPTION

Sorrento Therapeutics is an oncology company that is involved in the development of small molecules, mono- and bi-specific antibodies and antibody drug conjugates for treatment of cancer and associated pain. Sorrento Therapeutics was founded in 2006 and is based in San Diego, California.


DEAL STATS #
Overall 7 of 9
Sector (Life Science) 7 of 9
Type (Divestiture) 2 of 2
State (California) 4 of 5
Country (United States) 7 of 8
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-24 SmartPharm Therapeutics

San Diego, California, United States

SmartPharm Therapeutics is a privately held, development-stage biopharmaceutical company focused on developing next-generation, non-viral gene therapies for the treatment of serious or rare diseases with the vision of creating "Biologics from Within." SmartPharm is currently developing a novel pipeline of non-viral, gene-encoded proteins for the treatment of conditions that require biologic therapy such enzyme replacement and tissue restoration. SmartPharm commenced operations in 2018 and is headquartered in Cambridge, MA, USA.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-05 Acea Therapeutics

San Diego, California, United States

Acea Therapeutics is committed to developing and delivering innovative treatments to improve the lives of patients with life-threatening diseases. Acea has expanded drug discovery efforts to encompass development in both targeted and immunotherapy areas. Alongside a robust R&D organization, The company has established drug manufacturing and commercial capabilities in China to support its long-term growth. This infrastructure provides ACEA greater control over the drug supply chain to make sure products are delivered to patients on time and at the highest quality. It is well-positioned to deliver on its promise to bring innovative treatments to patients living with life-threatening diseases while creating value for shareholders, employees, and society. Acea Therapeutics was formed in 2017 and is based in San Diego, California.

Buy -
Buyer

SCILEX Pharmaceuticals

Malvern, Pennsylvania, United States

Category Company
Founded 2011
Sector Life Science
DESCRIPTION

SCILEX Pharmaceuticals, Inc. develops and brings branded pharmaceutical products to market using technologies that are designed to maximize quality of life for all. SCILEX is working to deliver the next generation of products that are responsible by design. The Company's lead product candidate under development, ZTlido (lidocaine patch 1.8%), is a branded lidocaine patch formulation for the potential treatment of relieving the pain of postherpetic neuralgia, also referred to as after-shingles pain.


DEAL STATS #
Overall 1 of 2
Sector (Life Science) 1 of 1
Type (Divestiture) 1 of 1
State (California) 1 of 2
Country (United States) 1 of 2
Year (2021) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-07 Ancora Medical

Menlo Park, California, United States

Ancora Medical is a medical technology company with an FDA approved product in February 2020, the Nerve Block Catheter Set which is indicated for surgical pain management during the pre-operative, perioperative and post-operative periods associated with general and orthopedic surgery. Ancora Medical is based in Menlo Park, California.

Buy -

Seller(S) 1

SELLER

Aardvark Therapeutics

San Diego, California, United States

Category Company
Founded 2017
Sector Life Science
DESCRIPTION

Aardvark Therapeutics is a clinical-stage biotechnology company focused on the development of novel small molecule therapeutics to activate innate homeostatic pathways for the treatment of metabolic diseases, inflammation, and other indications. Aardvark Therapeutics was founded in 2017 and is based in San Diego, California.


DEAL STATS #
Overall 1 of 1
Sector (Life Science) 1 of 1
Type (Divestiture) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1