Consegna Pharma Inc., a drug delivery company providing solutions to reduce deaths from opioid overdoses, has announced the acquisition of Fathom Pharma LLC, a company developing long-acting pain medicines.
"This acquisition is highly complementary to our existing opioid strategy and adds high quality growth potential," said Larry Zana, President and CEO. "We are delighted to welcome the Fathom team to Consegna."
Drug overdose deaths in the US now top 100,000 per year, most involving opioids, a nearly 30% increase from the previous year. Consegna's mission is to reduce this toll by creating innovative products to treat overdose, addiction, and pain.
Fathom Pharma develops new treatments for chronic pain that address the safety and efficacy gaps in the current treatment paradigm. The acquisition will strengthen Consegna's ability to develop improved medicines that are less susceptible to abuse or diversion and are potentially less addictive.
"Fathom welcomes joining Consegna, accelerating the clinical development of our combined LAI (long-acting injectables) portfolio focused on several aspects of pain signaling pathways," said Darren Wolfe, CEO, Fathom. "Across the globe, LAIs are changing the way medicines are delivered in key therapeutic areas and we are excited to help accelerate this transition."
As a result of the acquisition, Fathom has become a wholly owned subsidiary of Consegna Pharma.
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