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  1. Sun acquires 18.75% stake in Israel-based Tarsius Pharma for $3 million

Sun acquires 18.75% stake in Israel-based Tarsius Pharma for $3 million

Sun Pharmaceuticals on Monday acquired an 18.75% stake in Israel-based Tarsius Pharma for $3 million.

Sun Pharma’s subsidiary would be acquiring 345,622 ordinary shares of the company, having a nominal value of NIS 0.01 each, representing 18.75% of shares of Tarsius on a fully-diluted basis. (Reuters)

Sun Pharmaceuticals on Monday acquired an 18.75% stake in Israel-based Tarsius Pharma for $3 million. The stake was bought through one of its wholly owned subsidiaries, the company said in a filing to the stock exchanges. Tarsius is an early-stage research and development company focusing on development of drug candidates in the field of ophthalmology. The company was incorporated on February 21, 2016.

Sun Pharma’s subsidiary would be acquiring 345,622 ordinary shares of the company, having a nominal value of NIS 0.01 each, representing 18.75% of shares of Tarsius on a fully-diluted basis. The acquisition is expected to be completed before September 15, Sun Pharma indicated in the filing.

A media spokesperson for Sun Pharmaceuticals confirmed to FE in an email that Daphne Haim-Langford is the chief executive officer at Tarsius Pharma. Langford’s Linkedin profile indicates that she has been the CEO at Tarsius Pharma since February 2016. She stated on her profile that the firm is developing a novel treatment for uveitis, an autoimmune disease of the eye, and the third leading cause for blindness. The therapy is based on a new technology inspired by nature, she stated in her profile. Sun Pharmaceuticals did not confirm whether Tarsius is developing the new treatment for uveitis.

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