The Malvern pharmaceutical company purchased three neuromuscular blocking agents from Cornell University, according to a Philadelphia Business Journal report by John George.
The Recro-Cornell deal amounts to $350,000, plus regulatory milestone payments of up to $8 million and possible future royalties.
“This transaction strengthens our portfolio with the addition of several novel compounds, which have the potential to be significant contributors within the surgical anesthesia space and complement our existing pipeline of hospital/acute care pain products,” said President and CEO Gerri Henwood.
Recro plans to develop the new painkillers alongside its own IV meloxicam.
“We see value in building our in-hospital product portfolio, and believe that we can leverage our expertise in the field to efficiently develop these differentiated agents,” she said.