San Diego’s Imprimis Pharmaceuticals is selling off some assets and closing a facility in Pennsylvania as part of a move to focus on its research pipeline.
The company has sold its sinus-related assets for $450,000 and is closing the related facility, the company said. The move comes shortly after the company announced it sold two other research assets to its spinout, Eton Pharmaceuticals.
The moves are part of a plan to focus in on their ophthalmology drugs instead, said Imprimis CEO Mark Baum.
“The markets we serve with proprietary products in ophthalmology...should allow us to build a profitable and valuable company," Baum said in a statement. "In furtherance of this focus, we entered into an agreement to sell our Folcroft facility and exit the sinus space. We believe this is an important step towards reducing nonstrategic overhead expenses and focusing internal resources on strengthening our growing ophthalmology business."