Boston, MA, Jan. 14, 2022 – Burns & Levinson today announced that it represented privately-held Lowell Therapeutics, Inc. in the company’s $32.5 million sale to AcelRx Pharmaceuticals (NASDAQ: ACRX), a specialty pharmaceutical company focused on the development and commercialization of innovative therapies for use in medically supervised settings. The deal, which was announced on November 15, 2021, closed on January 10, 2022.
With the acquisition of Lowell Therapeutics, AcelRx expands its late-stage development pipeline with Lowell's lead product, Niyad™, which is an anticoagulant for patients with sudden kidney failure in the ICU who need to go on an artificial kidney machine for dialysis 24/7. Niyad has received Breakthrough Device Designation status from the U.S. FDA and the treatment has been approved in Japan and South Korea as a regional anticoagulant for the dialysis circuit, disseminated intravascular coagulation, and acute pancreatitis.
“It was an honor to represent Lowell Therapeutics and President and CEO James Wilkie in this complex transaction,” said Breiman. “In only four years, Jim and his team have built an impressive life sciences company, and this deal is a reflection of their hard work and innovation. We look forward to working with him on future endeavors and successes.”
“We chose Burns & Levinson for their extensive middle market M&A experience as well as for their deep understanding of the life sciences industry. Gil and his team were able to navigate the transaction’s complicated issues to get us over the finish line,” said James Wilkie, President and CEO of Lowell Therapeutics. “They kept everything on track and moving forward at every critical point, and their guidance was instrumental in making this sale happen.”
About Lowell Therapeutics, Inc.
Lowell Therapeutics, Inc. is focused on the discovery, development and commercialization of innovative therapies intended to significantly improve clinical outcomes in patients. NIYAD™, a preclinical-stage investigational product, is being developed for anticoagulation of the extracorporeal circuit and in particular continuous renal replacement therapy (CRRT).