Cipher Pharmaceuticals Acquires Assets Of Melanovus Oncology - Quick Facts

(RTTNews) - Specialty pharmaceutical company Cipher Pharmaceuticals, Inc. (CPHR, CPH.TO) announced it has acquired the assets of Melanovus Oncology, Inc., a Hershey, Pennsylvania-based life sciences company. The assets include seven pre-clinical compounds for the treatment of melanoma and other cancers.

The transaction includes an upfront payment to Melanovus of $500,000, as well as the payment of certain IP expenses related to patent prosecution and maintenance.

Founded in 2012, Melanovus acquired an exclusive global license to a library of compounds and related intellectual property from the Penn State Research Foundation.