Sebacia, Inc. completed the acquisition of all assets of Sienna Biopharmaceuticals, Inc. (OTCPK:SNNA.Q).
January 08, 2020
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Sebacia, Inc. entered into a sale purchase agreement to all acquire assets of Sienna Biopharmaceuticals, Inc. (OTCPK:SNNA.Q) for $1.7 million on December 5, 2019. Sebacia shall pay in cash $1.7 million and shall assume the assumed liabilities by executing the assumption agreement. The transaction is subject to approval of Bankruptcy Court. Brian Cuneo and Ted Dillman of Latham & Watkins LLP acted as legal advisor to Sienna. David Wood and Matthew Grimshaw of Marshack Hays LLP acted as legal advisor to Sebacia in the transaction.
Sebacia, Inc. completed the acquisition of all assets of Sienna Biopharmaceuticals, Inc. (OTCPK:SNNA.Q) on January 9, 2020. The acquisition includes Sienna Biopharmaceuticals's SNA-001 (silver photoparticle technology) which is a late stage asset pursuing an FDA clearance for light hair removal. The acquisition of these assets enables Sebacia to resolve the outstanding patent interference litigation between The General Hospital Corporation and Sienna Biopharmaceuticals.
Sienna Biopharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on bringing scientific innovations to patients whose lives remain burdened by their disease. Its lead candidate from its platform, SNA-120, is an inhibitor of Tropomyosin receptor kinase A (TrkA) for the treatment of psoriasis, as well as the associated pruritus (itch). The Company's second product candidate, SNA-125, is a dual Janus kinase 3 (JAK3)/TrkA inhibitor for the treatment of atopic dermatitis, psoriasis and the associated pruritus. In addition, the Company also offers SNA-001, a silver photo particle technology derived from its Topical Photoparticle Therapy platform.