Purdue Pharma LP has announced its acquisition of SpineThera Inc., creator of the SX600 non-opioid treatment for acute and chronic lower back pain. The terms of the transaction were not released.
SX6000 offers an epidural steroid injection with dexamethasone acetate – an anti-inflammatory – as its active ingredient. Minnesota-based SpineThera plans to evaluate the safety and tolerability of SX600 in a clinical development program that is scheduled to begin next year.
“We are pleased to partner with SpineThera to support further development of its novel steroid product for epidural injection for patients who suffer from low back pain,” said Craig Landau, president and CEO at Stamford-headquartered Purdue Pharma. “We are committed to alleviating pain through new and innovative non-opioid medicines. SX600 represents an exciting opportunity to meet this important medical need and advance our mission.”
In February, Purdue Pharma said that it would cease the promotion of its opioids, including OxyContin, to doctors and would reduce the size of its salesforce by half. Fourteen states have filed lawsuits against Purdue Pharma, claiming its allegedly deceptive marketing of prescription opioids contributed to the ongoing opioid crisis. The company has stated that its drugs have U.S. Food and Drug Administration approval and accounted for only 2 percent of all opioid prescriptions.