Dallas, Texas-based SWK, a life science focused specialty finance company, announced Tuesday its subsidiary, SWK Acquisition Corp., has acquired 100% of Enteris’ equity from Victory Park Capital.
“The acquisition of Enteris is a transformational milestone for SWK that builds upon our traditional specialty finance business,” SWK CEO Winston Black said. “With Enteris, we have secured, on very favorable terms, a revenue-generating company with a platform technology, development pipeline and manufacturing capabilities that have yet to realize their full economic potential. As a result, we have the opportunity to become more operationally oriented, actively building a wholly-owned portfolio of milestones and royalties throughout-licensing activities.”
Under terms of the deal, Enteris will operate as an independent, wholly-owned subsidiary of SWK. The company will continue to focus on advancing partnerships built around its proprietary oral drug delivery technology, Peptelligence, as well as its internal drug development pipeline.
“The acquisition by SWK aligns Enteris with a company that shares our excitement for the boundless potential of our Peptelligence platform and our vision to be the leading developer of orally delivered peptide and small molecule therapeutics,” Brian Zietsman, president and chief financial officer of Enteris BioPharma, said. “The oral delivery of peptides is a priority within the pharmaceutical industry given the numerous benefits that such drugs could offer across the entire healthcare continuum, from patients and their caregivers to the pharmaceutical companies that develop and commercialize these life-saving therapeutics. SWK is the ideal partner for empowering Enteris to unlock the full value of Peptelligence and our multiple external and internal development programs.”