CollaGenex Agrees To Purchase SansRosa

CollaGenex Pharmaceuticals to Acquire SansRosa Pharmaceutical Development for Up to About $6.75M

Skin treatment maker CollaGenex Pharmaceuticals Inc. said Thursday that it agreed to acquire SansRosa Pharmaceutical Development Inc., which holds patent applications for methods of treatment of redness associated with rosacea and other skin disorders, for up to about $6.75 million.
An initial payment of $750,000 will give CollaGenex 51 percent of the Philadelphia startup.

Shareholders could get up to an additional $4 million to $6 million if all milestones are met and a patented product is developed and approved for sale, Collagenex said.

The companies' agreement also calls for earn-out payments on future product sales.

Rosacea affects about 13.6 million adults in the United States.