Orchid Pharma (NSE:ORCHPHARMA, BOM:524372) has signed an agreement with the insolvency administrator of Allecra Therapeutics (Germany) to acquire all assets of Allecra, according to an Indian bourse filing Wednesday.
Shares of the company jumped 5% in Thursday's trade.
The assets include intellectual property, trademarks, customer contracts, regulatory filings, and tangible and intangible assets, the filing said.
Meanwhile, a French court on July 30 accepted Orchid's binding bid-submitted with the concurrence of the insolvency administrator of Allecra Therapeutics SAS-for acquisition of similar assets, the filing said.
A formal order is expected shortly, it added.
Upon completion, Orchid Pharma will reclaim 100% global ownership of enmetazobactam, the first novel antibiotic molecule discovered in India.
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