GTCR-backed Crealta Pharmaceuticals has purchased substantially all the assets of Savient Pharmaceuticals out of bankruptcy. The deal was first announced in December after Crealta won Savient's asset auction and received transaction approval. An earlier report priced the deal at $120.4 million.
Savient filed for Chapter 11 bankruptcy in October after generating unexpectedly low revenue from its key asset pegloticase, the only FDA-approved treatment for refractory chronic gout. Crealta hasn't been around for long, having been establishing by GTCR this past August.