AptarGroup, a provider of drug delivery solutions, has entered into a share purchase agreement to acquire a controlling stake in digital therapeutics developer Voluntis.
Under the deal, Aptar will purchase up to 64.6% share capital in Voluntis by paying €8.70 per share.
Subject to customary conditions including approval from the French Ministry of Economy under the foreign investment clearance regulations, the completion of the transfer of the block of shares is expected to be completed by the end of third quarter 2021.
Aptar will launch a mandatory cash tender offer to purchase Voluntis’ remaining shares for the same price of €8.70 per share, after and subject to completion of this acquisition.
The company aims to implement a squeeze-out on the remaining outstanding shares of Voluntis if the regulatory conditions are met upon completion of the tender offer.
Voluntis is engaged in the development of personalised and algorithms-based digital therapeutics.
The company offers DTx solution, which is based on a mobile app for patients and a web application for the care team. It can be used in oncology, diabetes and immunology applications.
The DTx solution offers automated insulin dose recommendations and coaching messages, in addition to enabling the care team to remotely monitor progress.
Voluntis offers Insulia, a digital therapeutic that secured clearance from the US Food and Drug Administration (FDA) and CE mark approval to treat type 2 diabetes. It was assessed in various clinical and real-world pilot studies.
The company leverages its Theraxium platform to support its life sciences partners across different therapeutics areas, including oncology, immunology, neurology and rare diseases.
Theraxium platform is designed to boost and de-risk digital therapeutics and connected health projects for life sciences partners.
It is embedded with proprietary modules to design and execute decision-support algorithms. The platform helps to provide reusable DTx components and a library of off-the-shelf clinical algorithms to further customise as per the requirements.
In November 2020, Aptar Pharma acquired US-based digital respiratory health company Cohero Health.
