CHICAGO, Aug. 17, 2016 /PRNewswire/ -- Sasmar Pharmaceuticals today announced that is has acquired Aquatrove Biosciences, Inc., a biotechnology company focused on discovery, research and development in human reproductive health and fertility.
Under the terms of the agreement, Sasmar, through its Australian based holding, acquired all stock in privately held Aquatrove in exchange for an upfront payment of an undisclosed sum in cash. The deal formally closed this week included Aquatrove's global portfolio of intellectual property, patents, and ownership of a rich pool of research data built up over the last 14 years.
Like many pharmaceutical companies Sasmar is seeking biotechnology acquisitions to bolster product pipelines. Sasmar 's investment strengthens its position as an innovator in the global pharmaceutical market in over-the-counter products supporting health, fertility and reproduction. SASMAR 's President and CEO, John-Michael Mancini said "the acquisition captures the capability and knowhow built up over many years by the specialized team at Aquatrove and facilitates the realization of our plans for growth moving forward."
In 2008 Sasmar first commercialized an Aquatrove patented formulation developed to help increase the chances of pregnancy that trying to conceive couples could use replacing regular personal lubricant with sexual intercourse during ovulation. Data on the novel formulation containing essential ions Calcium and Magnesium was presented at the 2009 Annual Meeting of the ASRM (American Society for Reproductive Medicine) and has since become the market leading fertility lubricant recommended by doctors. The product is marketed internationally in pharmacy and drug stores under the brand Conceive Plus.
Exposure to over-the-counter personal lubricants results in rapid loss of sperm viability and motility. The combination of suboptimal pH, osmolality, and various additives in these lubricants results in sperm damage and an inability of the sperm to penetrate into the cervix, thereby negatively impacting conception. The formulation of the Conceive Plus product contains essential Ca2+ and Mg2+ ions and optimal pH and osmolality to better mimic the natural fertile cervical fluids to alleviate the problem of vaginal dryness and to assist couples trying-to-conceive. Sasmar received FDA 510(k) clearance for the product in late 2013 and plans to launch nationally in major U.S drug stores from September.
Sasmar Pharmaceuticals is an Australian multinational pharmaceutical manufacturer focused on delivering products that benefit the lives of consumers. Its products are available in more than 70 countries from pharmacies, supermarkets, drug stores, clinics, and hospitals. Brands include SASMAR, Conceive Plus, and EREXIA. Headquartered in Brussels, Belgium the company is also a major supplier of personal lubricants to the United Nations and other international NGOs helping in the efforts to reduce unwanted pregnancies and sexually transmitted disease including HIV/AIDS. Website: www.sasmar.com/co
Aquatrove Biosciences, Inc. was co-founded in Boston in 2005 by Dr. Boris Nikolic and Dr. Vineet Gupta faculty members from the Harvard Medical School and the Massachusetts General Hospital to address the shortcomings in the market for simple, over-the-counter products to address issues relating to human fertility and conception. Website: www.aquatrove.com
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SOURCE Sasmar Pharmaceuticals