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Harrow (HROW) announced on Friday that it has entered into an agreement to acquire privately held Melt Pharmaceuticals for an undisclosed price.
While Harrow is a provider of ophthalmic disease management solutions, and Melt Pharmaceuticals is focused on developing non-opioid therapies for sedation during medical procedures.
The acquisition will include Melt’s lead investigational therapy, MELT-300, a sublingually delivered formulation of a fixed dose of Midazolam (3mg) and Ketamine (50mg) designed to provide rapid, predictable sedation and analgesia without the need for intravenous administration.
Shares of Harrow jumped 2% in the pre-market session at the time of writing.