SkyePharma Buying Out RTP Pharma In $20.6 Million Deal

LONDON The drug delivery company SkyePharma plc is buying the remaining 60 percent of the Canadian company RTP Pharma in an all-share deal valued at US$20.6 million. Also, the company secured US$30 million in cash from Paul Capital Royalty Acquisition Fund LP to fund the clinical development of both RTP’s reformulated version of the anesthetic propofol, and SkyePharma’s reformulation of the asthma drug formoterol. (BioWorld International)