India’s Sun Pharmaceutical Industries (BSE: 5247150) announced that its subsidiary, Taro Pharmaceuticals, has entered into an agreement to acquire a 100 per cent stake in Antibe Therapeutics (TSXV: ATE), a clinical-stage biotechnology company based in Ontario, Canada.
The transaction is part of Sun Pharma’s strategy to expand its pharmaceutical and healthcare portfolio, particularly in the area of pain and inflammation management. Antibe Therapeutics specializes in developing novel drugs focused on reducing pain and inflammation.
The transaction is subject to a “reverse vesting order” and approval from the Ontario Superior Court of Justice (Commercial List), Sun said, adding that the transaction is expected to be closed before March 7,2025.
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