AcelRx Pharmaceuticals, a specialty pharmaceutical company focused on the development and commercialization of therapies for medically supervised settings, has acquired privately-held, Lowell Therapeutics for $32.5 million. Burns & Levinson LLP represented Lowell in the sale.
The deal expands AcelRx’ late-stage development pipeline with the addition of Lowell’s Niyad. Niyad is an anticoagulant for patients in the ICU with sudden kidney failure and need to use artificial kidney machines for dialysis. The product has received the breakthrough device designation from the U.S. FDA and has been additionally approved in Japan and South Korea.
“It was an honor to represent Lowell Therapeutics and President and CEO James Wilkie in this complex transaction,” said Gil Breiman, partner at Burns & Levinson. “In only four years, Jim and his team have built an impressive life sciences company, and this deal is a reflection of their hard work and innovation. We look forward to working with him on future endeavors and successes.”