Sirion Therapeutics combines with Tenby Pharma

By Elaine Rigoli

Tampa, Fla., Sept. 18 - Tenby Pharma, Inc. has acquired Sirion Therapeutics, Inc. as a wholly owned subsidiary.

Pursuant to the transaction, Sirion's former stockholders acquired control of Tenby Pharma and Tenby Pharma became the parent holding company for Sirion and its businesses.

Additionally, in connection with the transaction, Tenby Pharma secured $25 million in financing from funds affiliated with North Sound Capital LLC to develop and commercialize the Sirion portfolio of products.

It is anticipated that Tenby Pharma will undergo a name change to Sirion Holdings, Inc.

Barry Butler, president and chief executive officer of Sirion Therapeutics, has been appointed to serve as president and CEO of Tenby Pharma.

Kevin J. Kinsella of Avalon Ventures, Kenneth J. Widder, former chairman and CEO of Sytera, Roger Vogel, chief medical officer of Sirion Therapeutics, and Barry Butler have been appointed to serve as the initial board of directors of the combined companies.

Tenby is a holding company for Sirion, a Tampa, Fla.-based biopharmaceutical company.

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