Philadelphia, PA, July 31, 2024 (GLOBE NEWSWIRE) -- SERB Pharmaceuticals, a global specialty pharmaceutical company, announced today the acquisition of RSDL® (Reactive Skin Decontamination Lotion) kit from Emergent BioSolutions Inc. (NYSE: EBS) for an up-front payment of approximately $75 million. In addition, SERB will pay Emergent a $5 million payment upon first achievement of a milestone relating to sourcing of certain components of RSDL®. As part of the transaction, SERB will also acquire and maintain the operation of the leased manufacturing facility in Hattiesburg, Mississippi and several employees who support the site and RSDL® product will join SERB.
RSDL® is a medical device provided as a kit, with a lotion impregnated sponge in a packet, intended to remove or neutralize chemical warfare agents from the skin. RSDL removes or neutralizes chemical warfare agents (CWAs) including: tabun, sarin, soman, cyclohexyl sarin, VR, VX, mustard gas, and T-2 toxin. RSDL® is the only FDA-cleared device backed by 20 years of clinical data, that can remove or neutralize chemical warfare agents from the skin in one step. Over 15 million packets of RSDL® have been sold in over 30 countries.
“The acquisition of RSDL® strengthens our position as the leading provider of medical countermeasures for chemical, biological, radiological and nuclear threats," said Jeremie Urbain, Chairman of SERB Pharmaceuticals. “Alongside our broad portfolio of antidotes and preventive medicines, RSDL® will give SERB new opportunities to support and partner with governments, militaries, NGOs and emergency preparedness agencies around the world.”
RSDL® was initially developed by Defence Research and Development Canada, an agency of the Canadian Department of National Defence, to prepare the Canadian forces for chemical warfare attacks. RSDL® was 510(k) cleared by the FDA in 2003 and was subsequently issued a European CE Mark, and approval by Health Canada, the Australian Therapeutic Goods Administration and Israeli Ministry of Health.
Rothschild served as financial advisor to SERB and Freshfields served as legal counsel to SERB in connection with the transaction.
About SERB Pharmaceuticals
SERB is a global specialty pharmaceutical company with a growing portfolio of medicines for emergency care and rare diseases. For over 30 years we have made treating these complex and life-threatening conditions possible, supporting clinicians, healthcare systems and governments while offering hope to patients and their families. SERB has the broadest antidote portfolio in the world, including medical countermeasures for chemical, biological, radiological and nuclear (CBRN) risks. As a fully integrated company, we have the experience and capabilities to acquire, develop, and manufacture our medicines to the highest standards, and make them available worldwide through our secure supply chain. Learn more at https://SERB.com.
About RSDL® (Reactive Skin Decontamination Lotion)
Indication
The Reactive Skin Decontamination Lotion is intended to remove or neutralize chemical warfare agents, and T-2 Toxin from the skin.
Important Safety Information
RSDL® is for external use only. It should be used only if chemical warfare agent exposure is suspected and as directed. It is not for prophylactic use or whole body decontamination. An RSDL® ingredient is absorbed through the skin and may cause adverse effects. Prolonged skin contact and contact with the eyes and mucous membranes must be avoided. RSDL® may cause skin irritation and should be removed when conditions permit.
