Tris Pharma, a developer of technology-based therapeutic products, has acquired Pfizer’s subsidiary NextWave Pharmaceuticals for an undisclosed sum.
The acquisition of NextWave will allow Tris Pharma to expand its products for the treatment of patients with attention deficit hyperactivity disorder (ADHD).
ADHD is a common neurodevelopmental disorder characterized by an ongoing pattern of inattention or hyperactivity and impulsivity.
As per the Centers for Disease Control and Prevention’s 2011 data, around 11% of children aged four to 17 years in the US have received an ADHD diagnosis at some stage of their life.
Tris Pharma president and CEO Ketan Mehta said: “As co-developer of Quillivant XR and QuilliChew ER, we are excited to bring commercialization of these products in house and expand our ADHD portfolio.
“To further support our newest acquisition, Tris is expanding our commercial footprint and building a world class medical affairs group.”
Under the deal, Tris will acquire two ADHD treatments, including Quillivant XR and QuilliChew ER, from NextWave.
Quillivant XR is the first and only marketed extended-release oral liquid methylphenidate, while and QuilliChew ER is the first and only extended-release methylphenidate chewable tablet.
Both products, which are central nervous system (CNS) stimulants, secured approval for the treatment of ADHD.
With the support of Tris’ LiquiXR platform, the Quillivant XR and QuilliChew ER products have been developed by NextWave and Tris.
Pfizer acquired NextWave in 2012, while Tris continued to produce both products for Pfizer, before and after US Food and Drug Administration (FDA) approval.
Tris chief medical officer Dr Barry Herman said: “Our newest acquisition brings us one step closer to realizing our corporate mission, to develop and expand offerings to meet unmet needs for all patients.”
Tris Pharma is engaged in the development of pharmaceutical science and technology-based products. It mainly focuses on the research, development, manufacturing and commercialization of both branded and specialty generic products.
In 2016, Tris launched Dyanavel XR, which is the first liquid amphetamine for children six years and older with ADHD.