ProStrakan acquires Archimedes for £230 million.

ProStrakan Group plc, a subsidiary of global specialty pharmaceutical company, Kyowa Hakko Kirin Co., Ltd., , announced that it has entered into an agreement with Novo A/S, a private limited liability company fully owned by the Novo Nordisk Foundation, to purchase the entire share capital of Archimedes Pharma Limited for a consideration of £230 million in cash. Archimedes is a fast growing European-based specialty pharmaceutical company providing novel and advanced treatments within the therapeutic areas of pain, oncology and critical care. Its largest product is PecFent, a fentanyl nasal spray used in the management of breakthrough cancer pain in patients who are already receiving maintenance opioid therapy for chronic cancer pain. The product was developed using Archimedes’ proprietary drug delivery technology platform, which is protected by several patents.