SkyePharma Inc was divested by its former parent company SkyePharma plc in March 2007 and was subsequently acquired by San Diego-based Pacira Inc (formerly Blue Acquisition Corporation), which is now controlled and funded by a group of life science investment firms.
The new investor group made the investment in Pacira Pharmaceuticals based on the significant development opportunity of its technology and of DepoBupivacaine, a sustained-release local analgesic now in clinical development for use in the $5.7 billion postoperative pain market.
Fred Middleton, chairman of Pacira Inc, stated: “Pacira Pharmaceuticals now has the resources necessary to pursue the commercial potential for DepoBupivacaine, as well as to deliver on the promise of our proprietary sustained-release technologies.”
“Our new name, Pacira Pharmaceuticals, reflects strong local commitment of more than a decade as a San Diego-based product R&D organization. In the future we plan to consider directly marketing our own products still in development, as well as in-licensing products in core therapeutic areas of interest, such as pain,” Mr Middleton continued.