Vistagen completes acquisition of Pherin Pharmaceuticals

A California-based biopharmaceutical company has announced the completion of its acquisition of Pherin Pharmaceuticals Inc., a drug development firm that specializes in neuropsychiatric and neuroendocrine issues.

According to a release from Vistagen, the sale allows it to own all intellectual property rights to Pherin’s two most advanced drug candidates, PH94B — currently in phase 3 development for social anxiety disorder and phase 2 development for adjustment disorder with anxiety — and PH10, in clinical development for major depressive disorder.

The acquisition also brings three more Pherin drug candidates in earlier stages of development under Vistagen’s purview: PH15 for cognition improvement, PH80 for migraine and hot flashes and PH284 for appetite-related disorders, per the release.

In a separate release issued in January, Vistagen revealed it would acquire Pherin for approximately 12.4 million shares of Vistagen common stock and a nominal amount of cash.

“This acquisition is another important step in our plan to develop and commercialize PH94B and PH10 as innovative treatments for millions of individuals struggling with anxiety and depression disorders,” Shawn Singh, CEO of Vistagen, said in the release. “This acquisition significantly improves the potential future commercial profile of each drug candidate.”Vistagen additionally said its acquisition of Pherin eliminates all future royalty payments related to its five pherine nasal spray drug candidates.