Pacira BioSciences Acquires Flexion Therapeutics for $630 Million

Pacira BioSciences, a biopharmaceutical company focused on non-opioid pain management, announced that it had acquired Flexion Therapeutics, a company specializing in treatments for musculoskeletal conditions, on Oct. 11th, 2021. Pacira purchased Flexion for $8.50 a share, placing an approximate equity of $450 million on the company, or $630 million including debt.

Paxira’s acquisition of Flexion gives them access to the latter’s lead product, Zilretta (triamcinolone acetonide extended-release injectable suspension), a non-opioid injection intended for pain relief. According to a company press release, Zilretta is the first and only FDA approved extended-release intra-articular therapy for patients confronting osteoarthritisv (OA)-related knee pain.

The acquisition also gives Pacira access to two of Flexion’s drug candidates, FX201 and FX301. FX201 is a novel, intra-articular gene therapy product candidate designed to produce an anti-inflammatory protein, interleukin-1 receptor antagonist. FX301 is designed as a peripheral nerve block for control of postoperative pain. Both candidates are currently in Phase IB trials that the company expects to have results from by the end of the year.

“This acquisition is a major milestone in our strategy to build a robust offering of novel, non-opioid treatments to improve patient care along the neural pain pathway while simultaneously providing us with a complementary commercial asset in ZILRETTA for the treatment of OA knee pain,” said Dave Stack, chairman and CEO of Pacira, in the press release. “We believe the Flexion portfolio further solidifies Pacira as a leader in opioid-sparing pain management as we continue to redefine the role of opioids as a last resort rescue medication.”

“Pacira shares our commitment to advancing non-opioid pain control and we believe it is ideally positioned to drive continued clinical and commercial success of ZILRETTA, FX201, and FX301,” said Michael Clayman, CEO and co-founder of Flexion, in the press release.

Source: Pacira BioSciences