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London, November 30th 2023 – CNX Therapeutics Limited (“CNX Therapeutics”), a speciality pharmaceutical company with a focus on improving access to medicines that are critical to the well-being of patients, is pleased to announce that it has successfully completed the acquisition of two CNS products from Sanofi SA (“Sanofi”), a global healthcare company.

CNX Therapeutics has acquired two medicines; Panacod® (paracetamol/codeine) and Propavan® (propiomazine) which are used to treat pain and insomnia respectively.

Panacod®, used in adults for opioid-sensitive pain when peripherally acting analgesics alone are insufficient. Available in Finland and Sweden.

Propavan®, used for the treatment of insomnia. Available in Sweden.

The acquisition of these products grows CNX Therapeutics’ portfolio of CNS products and expands their presence within the Nordic markets.Acquiring these well-established products support the CNX Therapeutics’ mission to improve the lives of patients by providing access to essential medicines.

CNX Therapeutics’ Vice President of Corporate Development, Ben Moore commented, “Through this strategic acquisition we are excited to expand our footprint in the Nordic region and further strengthen our commitment to advancing healthcare solutions. This addition to our portfolio of CNS medicines underscores our dedication to addressing unmet medical needs and improving the lives of patients suffering from neurological disorders. We are eager to leverage our expertise and resources to maximise the potential of these therapies and continue making a meaningful difference to the lives of individuals across the region”.

CNX Therapeutics was acquired by Inflexion Private Equity, a leading mid-market private equity firm, in 2021.

CNX Therapeutics was advised on this transaction by BDO, Alira Health and Grant Thornton