07:01 AM EDT, 10/03/2024 (MT Newswires) -- Eton Pharmaceuticals ( ETON ) said Thursday that it signed an asset purchase agreement to acquire Increlex from Ipsen.

Increlex is a biologic indicated for the treatment of patients 2 years to 18 years of age suffering from severe primary insulin-like growth factor 1 deficiency. Eton said in 2023 Ipsen reported global Increlex sales of 17.3 million euros ($19.1 million).

No financial terms were disclosed but Eton said it will finance the transaction with existing cash and through an increase to its existing credit facility with SWK Holdings.

Eton expects to close the transaction near the end of the year. The company said it plans to immediately commercialize the product in the US after closing, while Ipsen will continue distributing the product outside the US over a six-month transition period.