Thar Pharmaceuticals: Gruenenthal buys oral formulation company Thar

Gruenenthal Group (Aachen, Germany) acquired drug formulation company Thar Pharmaceuticals Inc. (Pittsburgh, Pa.). The companies did not disclose financial terms, and did not respond to inquiries.Thar's Enhance technology is designed to convert IV drugs into oral candidates. Gruenenthal plans to conduct Phase III testing of Thar's lead program, T121, to treat complex regional pain syndrome (CRPS). The non-opioid, oral formulation of zoledronic acid has Orphan Drug designation from FDA in the indication.Gruenenthal said T121 will complement its existing CRPS portfolio. Its neridronate, an IV formulation of neridronic acid, is in a Phase III trial to treat CRPS.In August, Thar filed to raise up to $50 million in an IPO.