LONDON, UK: Psych Capital PLC, a leading global investment firm specializing in the healthcare sector, has announced that it has acquired 100% of the issued share capital of Shortwave Pharma Inc., a biopharmaceutical drug-development company.
The acquisition will expand Psych Capital’s pharmaceutical portfolio to address the growing market for eating disorders.
Shortwave Pharma is a Canadian company with operations based in Israel. The company develops breakthrough therapies to address unmet medical needs in the field of mental health, with a focus on eating disorders. Its initial program is a transformative therapy for anorexia nervosa, the most fatal eating disorder.
Eating disorders are a serious public health problem, affecting millions of individuals worldwide. According to the World Health Organization, it is estimated that approximately 9% of the global population suffers from an eating disorder.
Shortwave Pharma’s drug delivery product has the potential to dramatically improve the efficacy and safety of treatments for eating disorders. The product has completed preliminary early-stage activities that demonstrate its chemistry, manufacturing, and controls (CMC) and preclinical abilities.
Psych Capital is paying £3.5 million for Shortwave Pharma through a combination of cash and new ordinary shares. The acquisition is expected to close in the coming weeks.
William Potts, CIO of Psych Capital PLC, said: “The acquisition of Shortwave Pharma represents a significant step forward in our mission to improve the lives of individuals affected by mental illnesses such as eating disorders. With their scientific prowess and innovative approach to drug development, we are well-positioned to make meaningful advancements in this critical area of healthcare.”
The acquisition of Shortwave Pharma by Psych Capital PLC is a significant development in the field of eating disorder treatments. The combined entity has the potential to accelerate the development of novel therapies and address the urgent needs of patients suffering from these critical illnesses.
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