Consegna Pharma Acquires Fathom Pharma to Strengthen Initiatives that Address the Opioid Crisis

The acquisition adds breadth to Consegna's mission to save lives by developing innovative products to treat overdose, addiction, and pain.

PITTSBURGH, April 19, 2022 /PRNewswire/ -- Consegna Pharma Inc., a drug delivery company providing solutions to reduce deaths from opioid overdoses, is pleased to announce the acquisition of Fathom Pharma LLC, a company developing long-acting pain medicines.

"This acquisition is highly complementary to our existing opioid strategy and adds high quality growth potential," said Larry Zana, President and CEO. "We are delighted to welcome the Fathom team to Consegna."

Drug overdose deaths in the US now top 100,000 per year, most involving opioids, a nearly 30% increase from the previous year. Consegna's mission is to reduce this toll by creating innovative products to treat overdose, addiction, and pain.

Fathom Pharma develops new treatments for chronic pain that address the safety and efficacy gaps in the current treatment paradigm. The acquisition will strengthen Consegna's ability to develop improved medicines that are less susceptible to abuse or diversion and are potentially less addictive.

"Fathom welcomes joining Consegna, accelerating the clinical development of our combined LAI (long-acting injectables) portfolio focused on several aspects of pain signaling pathways," said Darren Wolfe, CEO, Fathom. "Across the globe, LAIs are changing the way medicines are delivered in key therapeutic areas and we are excited to help accelerate this transition."

As a result of the acquisition, Fathom has become a wholly owned subsidiary of Consegna Pharma.

About Consegna Pharma

Consegna Pharma is a leader in leveraging computational technologies to create long-acting injectable (LAI) drug delivery systems. Consegna is building a franchise of new medicines to help combat the opioid crisis. Consegna's product pipeline focuses on areas where LAIs offer high therapeutic value, such as addressing high non-adherence, solving specific drug delivery challenges, or reducing side effects. The company leverages its artificial intelligence (AI)-based Computational Drug Delivery™ technology to design LAIs faster than legacy practice and with reduced clinical and technical risk.

About Fathom Pharma

Fathom Pharma is focused on developing new treatments for moderate to severe chronic pain that address the safety and efficacy gaps in the current treatment paradigm. The company's lead product, FP01, is being developed initially for the treatment of chronic pain in terminally ill patients.

SOURCE Consegna Pharma Inc.