Acquisition of Zynerba Pharmaceuticals by Harmony Biosciences
On 14 August 2023 a joint media release from Zynerba Pharmaceuticals Inc and Harmony Biosciences Holdings Inc announced that Harmony Biosciences has entered into a definitive arrangement to acquire Zynerba Pharmaceuticals.
Zynerba Pharmaceuticals is currently conducting a clinical trial in Australia and internationally to evaluate the efficacy of its investigative synthetic CBD gel product in helping with behaviours associated with Fragile X syndrome. This is the RECONNECT study which is being undertaken at four sites in Australia. The trial is to continue as planned, with anticipated finish date of late 2023.
Extract from the announcement: “This is an important step in Harmony’s strategy to build a diversified portfolio of innovative assets to address unmet medical needs and drive our long-term growth. This acquisition affords us the opportunity to advance the development and delivery of a potentially transformative treatment for the symptoms of Fragile X syndrome and other rare neuropsychiatric disorders,” said Jeffrey M. Dayno, M.D., President and Chief Executive Officer at Harmony Biosciences. “In addition to the strength of our core business in narcolepsy and our current life cycle management programs, led by idiopathic hypersomnia, we are excited to continue to diversify our portfolio beyond sleep/wake by adding Zynerba’s clinical development programs to our pipeline. The team at Zynerba has been dedicated to these programs and we are confident that our combined efforts could have a profound impact on individuals living with rare neuropsychiatric disorders and their families.”
For more information, see the Zynerba website announcement