Cycle Pharmaceuticals Completes Acquisition of Applied Therapeutics

Core Insights - Cycle Group Holdings Limited has successfully acquired Applied Therapeutics, Inc., a clinical-stage biopharmaceutical company listed on NASDAQ [1] - The acquisition aims to enhance Cycle's portfolio in the rare metabolic disease sector, particularly focusing on treatments for conditions with no FDA-approved options [2][3] Company Overview - Cycle Pharmaceuticals was founded in 2012 with a mission to provide drug treatments and support for the underserved rare disease community, focusing on rare genetic conditions across various fields including metabolic, immunology, urology, and oncology [5] - The company is headquartered in Cambridge, UK, with additional offices in Detroit, Boston, and High Point [5] Drug Candidate Information - Applied Therapeutics' lead drug candidate, govorestat, is an Aldose Reductase Inhibitor designed to treat central nervous system rare metabolic diseases, including Classic Galactosemia, Charcot-Marie-Tooth Sorbitol Dehydrogenase Deficiency, and PMM2-CDG [2] - These conditions currently lack FDA-approved treatment options, highlighting the potential market opportunity for Cycle following the acquisition [2] Transaction Details - The acquisition will be funded using cash on hand, indicating Cycle's financial readiness to expand its operations [3] - Legal counsel for Cycle during the transaction was provided by Goodwin Procter LLP, while Applied Therapeutics engaged Aquilo Partners, L.P. for a fairness opinion and Ropes & Gray LLP for legal counsel [4]