CutisPharma Announces Acquisition of Silvergate Pharmaceuticals, Name Change to Azurity Pharmaceuticals

WOBURN, Mass.–(BUSINESS WIRE)–CutisPharma,
Inc.
announced today its acquisition of Silvergate Pharmaceuticals,
Inc. and the unveiling of its new corporate brand for the unified
company: Azurity Pharmaceuticals.

“I am thrilled to announce the combination of two strong companies with
a rich legacy meeting the needs of underserved patients, such as
children and the elderly,” said Neal I. Muni, MD, MSPH, Azurity
Pharmaceuticals’ Chief Executive Officer. “Azurity’s mission, to make
safe, high-quality treatments for patients requiring customized
formulations for their care, is significantly bolstered by our combined
resources and capabilities.”

NovaQuest Capital Management, LLC, the majority owner of Azurity
Pharmaceuticals, supported CutisPharma and its management team in the
transaction. Goldman Sachs Specialty Lending Group continues to support
the company as a lender and arranged the debt financing for the
transaction.

Azurity’s management team will be comprised of leaders from both the
legacy CutisPharma and Silvergate teams. Azurity’s Corporate
Headquarters and Manufacturing Facility will be located in the Greater
Boston area (Woburn, MA and Wilmington, MA, respectively); its R&D
Campus will be located outside Kansas City, MO and the Corporate
Satellite Campus will be located outside Denver, CO.

Both companies have achieved several key milestones over the past year,
including CutisPharma’s FDA approval and launch of FIRVANQ®
(vancomycin hydrochloride) for oral solution for the treatment of Clostridium
difficile
-associated diarrhea in early 2018, and Silvergate’s
submission of a New Drug Application (NDA) for its lead pipeline drug,
SG-05, to the FDA, currently under review. Together as one company,
Azurity will offer its valued customers a comprehensive portfolio across
12 products that serve multiple therapeutic areas.

About Azurity Pharmaceuticals

Azurity Pharmaceuticals is a privately-held specialty pharmaceutical
company formed by the acquisition of Silvergate Pharmaceuticals, Inc. by
CutisPharma, Inc., in May 2019. Azurity focuses on the needs of
patients, especially children and the elderly, requiring customized,
user-friendly drug formulations. Azurity’s products, including Epaned®
(enalapril maleate) Oral Solution, Qbrelis® (lisinopril) Oral
Solution, Xatmep® (methotrexate) Oral Solution, FIRVANQ®
(vancomycin hydrochloride) for oral solution, and FIRST®
Unit-of-Use Compounding Kits have benefited millions of patients who are
unable to swallow conventional oral dosage forms such as tablets and
capsules and whose needs are not served by other commercially available
therapies. For more information, visit www.azurity.com.

Contacts

Nicole Frederickson
Azurity Pharmaceuticals Media Relations
Email:
media@azurity.com

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