Mecamylamine Hydrochloride

NEW YORK and BAAR, Switzerland, Aug. 1, 2023 /PRNewswire/ -- Vyera Pharmaceuticals, LLC ("Vyera") and Phoenixus AG ("Phoenixus") today announced that they have entered into an Asset Purchase Agreement related to Daraprim and Vecamyl. The aggregate consideration to be paid for the sale and transfer of the purchased assets and the assignment of the certain contracts, subject to adjustment, shall be $650,000 together with the assumption of post-closing liabilities. The closing of the transaction is subject to satisfaction of certain conditions, including without limitation approval of the United States Bankruptcy Court for the District of Delaware with which Vyera and Phoenixus, together with affiliated parties, have filed voluntary petitions for relief under Chapter 11 of Title 11 of the United States Code and have elected to proceed under Subchapter V thereunder. The bankruptcy cases are jointly administered under Case No. 23-10605 (JKS). As part of the Subchapter V proceedings, Vyera filed a motion seeking authorization of its proposed bidding procedures under which to conduct its 363 sale. Additional information about this process and the proposed asset sale, as well as other documents relating to Vyera's Subchapter V proceedings, is available through Vyera's claims and noticing agent's website: . DLA Piper LLP is serving as the Vyera's legal counsel. SierraConstellation Partners LLC is serving as Chief Restructuring Officer and financial advisor, and Alvarez and Marsal Securities LLC is serving as investment banker. For more information about the sale process, interested parties should contact Alvarez and Marsal Securities LLC. About Daraprim DARAPRIM is a prescription medication that contains pyrimethamine for the treatment of toxoplasmosis when used with a sulfonamide (e.g., sulfadoxine). Toxoplasmosis is a serious, sometimes fatal infection caused by the Toxoplasma gondii (T. gondii) parasite, one of the most common parasites in the world. About Vecamyl VECAMYL® (mecamylamine HCI) is indicated for the management of moderately severe to severe essential hypertension and in uncomplicated cases of malignant hypertension. About Vyera Vyera is a United States based biopharmaceutical company committed to developing and commercializing treatments that address serious and rare diseases with high unmet medical needs. Vyera supports programs that offer financial assistance to patients in need and gives discounts to organizations that provide care to underserved populations. Vyera's research and development efforts focus on novel treatment options for toxoplasmosis and other rare or serious health conditions. . About Phoenixus AG Phoenixus AG is a Swiss based global biopharmaceutical enterprise using a virtual pharma and centralized services development model to reduce the risk, costs and timing of product development across its portfolio companies. Forward-Looking Statements This press release contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Securities Litigation Reform Act of 1995, that involve risks, uncertainties, and assumptions that are difficult to predict. Buyer and Vyera and Phoenixus (collectively, the "Companies") intend that such forward-looking statements be subject to the safe harbors created thereby. Words and expressions reflecting optimism, satisfaction or disappointment with current prospects, as well as words such as "believes," "hopes," "intends," "estimates," "expects," "projects," "plans," "anticipates" and variations thereof, or the use of future tense, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. The Companies' forward-looking statements are not guarantees of performance, and actual results could vary materially from those contained in or expressed by such statements due to risks and uncertainties including: (i) the sufficiency of the Companies' cash position, (ii) the Companies' ability to raise additional capital to fund its operations, (iii) the Companies' ability to meet its debt obligations, if any, (iv) the Companies' ability to enter into partnership or licensing arrangements with third parties, (v) the Companies' ability to identify patients to enroll in its clinical trials in a timely fashion, (vi) the Companies' ability to achieve approval of a marketable product, (vii) the design, implementation and conduct of the Companies' clinical trials, (viii) the results of the Companies' clinical trials, including the possibility of unfavorable clinical trial results, (ix) the market for, and marketability of, any product that is approved, (x) the existence or development of vaccines, drugs, or other treatments that are viewed by medical professionals or patients as superior to the Companies' products, (xi) regulatory initiatives, compliance with governmental regulations and the regulatory approval process, (xii) general economic and business conditions, (xiii) changes in foreign, political, and social conditions, and (xiv) various other matters, many of which are beyond the Companies' control. Except as required by law, neither Company undertakes any responsibility to update any forward-looking statements to take into account events or circumstances that occur after the date of this press release. Media Contact [email protected] SOURCE Vyera Pharmaceuticals

December 18, 2015 By Alex Keown , BioSpace.com Breaking News Staff NEW YORK – Martin Shkreli is out as chief executive officer of Turing Pharmaceuticals following his arrest for securities fraud on Thursday. This morning, Turing announced Shkreli, Turing ’s founder, has resigned his position as CEO. Ron Tilles , who has served as chairman of the board of directors for the company, will serve as interim-CEO, the company announced. “We wish to thank Martin for helping us build Turing Pharmaceuticals into the dynamic research focused company it is today, and wish him the best in his future endeavors. At the same time, I am very excited about the opportunity to guide Turing Pharmaceuticals forward. We remain committed to ensuring that all patients have ready and affordable access to Daraprim and Vecamyl. Research Development on new medications continues to be a priority for the company. With the dynamic leadership of Eliseo Salinas as head of Research and Development and Nancy Retzlaff as head of Commercial Operations, Turing Pharmaceuticals is poised for great success in the coming years,” Tilles said in a statement. While Shkreli has resigned from Turing , there is no word of whether or not he will resign from his CEO position at KaloBios Pharmaceuticals . While serving as CEO of Turing , Shkreli was a lightning rod for criticism after the company acquired Daraprim, a treatment for toxoplasmosis, for $55 million, then increased the price of the drug used by about 2,000 people in the United States by 5,000 percent. That move earned him endless amounts of public derision and prompted members of Congress to launch investigations into the high price of prescription drugs, as well as becoming the target of presidential candidates, including Donald Trump referring to Shkreli as a “spoiled brat.” Shkreli’s arrest predates his controversial Turing acquisition. Shkreli was charged on Thursday with seven counts of securities fraud, securities fraud conspiracy and wire fraud conspiracy. According to the indictment against Shkreli, he and his partners, including attorney Evan Greebel , orchestrated three interrelated fraudulent schemes—a scheme to defraud investors and potential investors in MSMB Capital ; a scheme to defraud investors and potential investors in MSMB Healthcare ; and a scheme to defraud Retrophin , the company Shkreli founded. The indictment said Shkreli’s scheme, which caused his investors to suffer a loss of more than $11 million, was carried out over a five-year period, from 2009 to 2014. While chief executive officer of Retrophin Pharmaceuticals , Martin Shkreli used the company as his “personal piggy bank” to pay off investors, U.S. Attorney Robert Capers said in a press conference following Shkreli’s arrest. When Shkreli was helming MSMB Capital Management , Capers said he made a number of risky investments and then lied to his investors as to how the investments were doing. After founding Retrophin Pharmaceuticals , he used funds from that publicly traded company to pay off his hedge fund investors, Capers said. “He did that to conceal the lies he told to his investors,” Capers said. “He lied to his investors about how the investments were doing and what he was doing with the money, all the while promising his investors they were receiving good returns.” In August, Retrophin sued Shkreli for $65 million over his use of company funds while helming that company. In its lawsuit, Retrophin said Shkreli breached his duty of loyalty to the biopharmaceutical company and he engaged in self-dealing and also seeks disgorgement of money paid to him. Retrophin said Shkreli used company funds for personal use, enriched himself through false consulting contracts and referred to Shkreli as “the paradigm faithless servant” who “is not entitled to compensation or post-separation benefits.” Retrophin alleges Shkreli struck payoff agreement up to 10 MSMB investors who lost money when the hedge fund collapsed. Shkreli paid some investors through fake consulting agreements and others through unauthorized appropriations of stock and cash, the company alleged in its lawsuit. The criminal case has been assigned to United States District Judge Kiyo A. Matsumoto . If convicted, Shkreli and Greebel each face a maximum sentence of 20 years’ imprisonment, according to the U.S. Attorney’s Office. Most recently, Shkreli acquired a majority stake in KaloBios and became the CEO of that company. Since news broke of his arrest, shares of KaloBios plummeted in 50 percent in Thursday’s pre-market session. Trading of the stock halted after his arrest.