Sun Pharma arm to acquire Aquinox Pharmaceuticals (Canada)

One of the wholly-owned subsidiaries of Taro Pharmaceutical Industries,  a subsidiary of Sun Pharma Industries has agreed to acquire by way of purchase of all outstanding shares of Aquinox Pharmaceuticals (Canada) Inc, a corporation organised and existing under the laws of the Province of British Columbia that carries on the business of research and development of pharma products for purposes of their commercialisation.

The cost of acquisition is about $8.2 million.

Aquinox Pharmaceuticals (Canada) is part of Aquinox Pharmaceuticals, Inc which merged with Neoleukin Therapeutics, Inc. Prior to its merger with Neoleukin, Aquinox was a pharma company discovering and developing novel therapeutics for conditions marked by inflammation, inflammatory pain, and blood cancers.