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news.Newly formed specialty pharmaceuticals company Supernus Pharmaceuticals has acquired the product formulation and development business of Shire Laboratories, the Maryland-based subsidiary of the UK's Shire Pharmaceuticals.
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The new company was founded by former Shire Laboratories president and CEO Jack Khattar, who will retain his job titles at Supernus.
Supernus has been funded by the venture capital firms New Enterprise Associates (NEA) and OrbiMed Advisors who invested $17.5 million and $10 million respectively.
The new company has declared its focus on developing products for its own portfolio and in partnership with other pharmaceutical companies, using its proven and patented technologies and product development capabilities.
Among its key technologies are ProScreen and OptiScreen for lead selection and formulation optimization, Microtrol, Solutrol and EnSoTrol, its oral controlled release technologies, and Avert, its reduced abuse potential technology.
“Operating from a solid foundation of successful drug delivery platforms, Supernus offers a comprehensive strategy of drug delivery options with a focus on specialty therapeutic areas that have unmet needs in large, growing markets,” said Jim Barrett, NEA general partner and newly appointed Supernus board member. “Coupled with a strong management team with significant industry experience, Supernus is primed to be an important specialty pharma company.”