Suven Life Science has received approval from a US bankruptcy court to buy assets of Rising Pharmaceuticals through its joint venture partner Shore Suven Pharma Inc. The company has completed a ‘stalking horse agreement’ as mandated by a bankruptcy court to buy the assets of Rising Pharmaceuticals. A stalking horse agreement refers to an initial bid for a bankrupt company’s assets and sets the lower limit in a bankruptcy auction.
Suven Life Science is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products, which are first in class or best in class CNS therapies using GPCR targets.
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