Neurelis has acquired Aegis Therapeutics, bringing together two San Diego companies.
The privately-held biotechs have a longstanding relationship. The deal means greater ties, combining Aegis’ trio of drug delivery technologies with Neurelis’ pipeline targeting epilepsy and the broader central nervous system.
By next year, Neurelis anticipates U.S. Food and Drug Administration approval and the launch of its lead candidate, valtoco, a nasal spray formulation of diazepam to control seizures. Valtoco includes Aeagis’ intravail, designed to increase spray absorption, with less variability.
Aegeis is also behind the drug delivery platforms protek and hydrogel.
Through the purchase, Neurelis will also gain licensing deals with Dr. Reddy’s Laboratories, Opiant Pharmaceuticals and others.
Terms of the acquisition were not disclosed.
Other drug candidates in Neurelis’ pipeline: NRL-2 that’s aimed at panic attacks and NRL-3 to stop status epilepticus, a dangerous condition in which epileptic seizures follow one another.
Neurelis was founded in 2007 with about $4 million from a variety of angel investors, who partnered with CEO Craig Chambliss and well-known biotech player David Hale, among others.
The company last year announced a series B round, raising an undisclosed amount.