Applied Therapeutics, Inc. is being acquired by Cycle Group Holdings Limited, marking a significant development in the pharmaceutical sector.
Cycle's acquisition includes Applied's lead drug candidate, govorestat, known for treating CNS rare metabolic diseases.
The merger agreement outlines the terms of the acquisition, including a per share price and additional contingent value rights.
Acquisition by Cycle
Cycle Group Holdings Limited to acquire Applied Therapeutics, indicating a strategic move in the pharmaceutical industry.
Lead Drug Candidate
Govorestat, a central nervous system penetrant Aldose Reductase Inhibitor, is Applied's key drug candidate for rare metabolic diseases.
Terms of Merger Agreement
The merger agreement includes a per share price of $0.088 in cash and a contingent value right (CVR) with potential additional payments based on specific milestones.
- The acquisition by Cycle provides Applied Therapeutics with the resources and support to advance the development of govorestat for the treatment of rare diseases.
- This strategic move aligns with Applied's commitment to creating transformative treatments for patients with CNS rare metabolic diseases.
The merger between Cycle Pharmaceuticals and Applied Therapeutics signifies a new chapter for drug development in rare metabolic diseases. The agreement sets the stage for continued progress in bringing innovative treatments to patients in need.