The award-winning life sciences team at Penningtons Manches has advised Australian drug delivery company SUDA Ltd on its acquisition of 100% control of its subsidiary Malaria Research Company Pty Limited (MRC). Headquartered in Perth, Western Australia, ASX-listed SUDA is a drug delivery company focused on developing oral sprays to deliver pharmaceutical products.
SUDA acquired the minority shareholding of ProtoPharma Limited (PPL), a subsidiary of London Pharma Limited, which had a 20% stake following the establishment of MRC in 2013. MRC owns the rights to the novel sublingual anti-malarial spray ArTiMistTM, the first sub-lingual spray for the treatment of p. falciparum paediatric malaria. This acquisition gives SUDA full control of ArTiMistTM and enables it to move forward with the development and commercialisation of the asset.
Penningtons Manches has advised SUDA for several years on its relationship with PPL and the ArTiMistTM project including on the initial establishment of MRC. Life sciences partner Jim Kinnier Wilson led the Penningtons Manches team with corporate senior associate James Went.
Jim Kinnier Wilson commented: “It’s been a pleasure working with SUDA over the years as they move forward with ArTiMistTM. One of the joys of life sciences work is being involved with this sort of innovative, potentially life-saving treatment.”
Stephen Carter, Chief Executive Officer of SUDA Ltd, said: “We really appreciated the effort Jim and James put in and this was another job well done by them.”