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AIMing high: Oil firm backs start-up Amryt's orphan disease play

By Cormac Sheridan
Staff Writer

Thursday, March 31, 2016

DUBLIN – Amryt Pharmaceuticals plc, a recently formed specialty pharma company with a focus on orphan diseases, is gaining a listing on London's AIM through a reverse takeover of the former oil and gas exploration firm Fastnet Equity plc, of Dublin, in a deal valued at £29.6 million (US$42.6 million). At the same time the Dublin-based company is raising £10 million in new funding and acquiring two European specialty pharma firms, Birken AG and Sompharmaceuticals SA, for a combination of cash, including milestone-based payments, and shares.

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