TARO Pharmaceuticals, a subsidiary of Sun Pharmaceutical Industries Limited has entered into an agreement with Antibe Therapeutics, Canada, pursuant to which Sun Pharma has agreed to acquire 100% stake in Antibe Therapeutics Inc.

Antibe Therapeutics is a Canada incorporated corporation based in Ontario, Canada. It is a clinical-stage biotechnological company developing novel drugs primarily focusing on reducing pain and inflammation. Antibe is currently being managed by a court-appointed receiver, and the receiver is authorized to carry out the sale of Antibe.

The transaction is subject to a Reverse Vesting Order and approval from the Ontario Superior Court of Justice and is expected to be completed before 7th March, 2025.