Knight Therapeutics, a leading Canadian specialty pharmaceutical company, has entered into an agreement of purchase of assets with Orphan Canada (orphan) related to the Canadian rights for ATryn and PHOTOFRIN (porfimer sodium), two innovative pharmaceutical products approved for sale in multiple jurisdictions.
Orphan is a Toronto-based specialty pharmaceutical company that in-licenses therapies for rare disorders and specialty medicines for the Canadian market.
As part of the agreement, Jason Flowerday and Joost van der Mark, the founders of the Orphan, join the Knight’s leadership team; Jason as the Vice President of sales operations and Joost as Vice President of corporate development.
“Joost and I are excited to bring our combined experience of 40 years in the pharmaceutical industry to Knight.”, said Jason Flowerday, Chief Commercial Officer of Orphan. “We are proud of this agreement that marks the beginning of a relationship with Knight where we will work together to bring innovative products to the Canadian market.”
Also in connection with the agreement, Bourne partners (“Bourne”), a merchant banking firm aimed at leading health care and co-founders of Orphan Canada with Jason and Joost, has been engaged by Knight to help with their corporate development efforts. “We are pleased to help Knight in its effort to become a leading speciality pharmaceutical company of Canada,” said Banks Bourne, CEO of Bourne Partners.
When commenting on the overall agreement, Jonathan Ross Goodman, CEO of Knight, said, “with this transaction, Knight has established its first product offering in Canada, significantly increased the size and the experience of its leadership team and expanded its scope of business development.”