09:30 AM EDT, 09/20/2024 (MT Newswires) -- BioSyent ( BIOYF ) said a subsidiary, BioSyent Pharma, will acquire some assets so it can supply Tibelia, a tibolone-based hormone replacement therapy drug, to distributors worldwide.

Under an agreement with Novalon and Mithra Pharmaceuticals, BioSyent Pharma will pay 2.3 million euros to acquire the intellectual property, global rights, certain licensing, distribution and supply agreements for Tibelia (tibolone), as well as certain inventory and equipment.

Tibolone has been available for over 30 years for the treatment of the symptoms of menopause. Novalon licensed and supplied tibolone to partners in 20 countries. BioSyent Pharma has licensed and marketed tibolone under the Tibella brand name in Canada since 2020. Last year, Novalon's revenue from this product was 2.1 million euros.