TARO Pharmaceuticals Inc., a subsidiary of Sun Pharma, has completed 100 percent acquisition of Antibe Therapeutics Inc., Canada for a total consideration of CAD 4.5 million.
Antibe Therapeutics is an Ontario, Canada incorporated corporation based in Ontario, Canada. It is a clinical-stage biotechnological company developing novel drugs primarily focusing on reducing pain and inflammation.
Prior acquisition, Antibe was under court-observed liquidation proceedings and is being managed by a court-appointed receiver. In January 2025, Sun Pharma had entered into a definitive agreement with the receiver to acquire 100% shares in Antibe via a reverse Vesting Order, based on which certain excluded assets and liabilities are transferred to a residual company from Antibe prior to closing.
