Blue Water Biotech Acquires Six FDA-Approved Medications

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Blue Water Biotech, a biotechnology company, has agreed to terms with WraSer, LLC and Xspire Pharma, LLC to purchase six FDA-approved assets across multiple indications, including cardiology, otic infections, and pain management. As per the deal, the biotech organization will purchase the drugs for a total of $8.5 million cash consideration payable in three tranches: at signing, upon closing and within one year of closing.

“The team at WraSer has developed a strong pipeline across cardiology, otic products, as well as pain management, and we are thrilled to add these assets to our portfolio at Blue Water,” said Joseph Hernandez, chairman, CEO, Blue Water. “In recent months, we have invested significant efforts to build our corporate infrastructure to support our transition into a commercial-stage company, including key hires with extensive experience in commercial operations. We are confident that bringing these assets into our portfolio will strengthen Blue Water’s financial position, allow us to advance our robust vaccine pipeline, and help millions of patients around the world receive proper access to critical treatments.”

Reference: Blue Water Biotech Expands Commercial Portfolio by Acquiring Six FDA-Approved Drugs Across Various Treatment Areas. GlobeNewswire. June 14, 2023. Accessed June 20, 2023. https://www.globenewswire.com/news-release/2023/06/14/2687972/0/en/Blue-Water-Biotech-Expands-Commercial-Portfolio-by-Acquiring-Six-FDA-Approved-Drugs-Across-Various-Treatment-Areas.html