CorMedix to Buy Heron Assets for Cash and Stock

The products are Zynrelef, an extended-release solution for postoperative pain; Aponvie, an injectable emulsion to prevent postoperative nausea and vomiting; and Cinvanti and Sustol, treatments to prevent chemotherapy-induced nausea and vomiting. CorMedix will also assume some of Heron’s liabilities.

The companies said the products are administered in hospitals, ambulatory surgical centers and infusion centers, where CorMedix has built its commercial infrastructure. Chief Executive Joseph Todisco called Heron’s portfolio “a natural fit” and said CorMedix sees particular potential for Zynrelef as hospitals and surgery centers increasingly adopt non-opioid approaches to postsurgical pain.

Heron is pursuing the sale after reviewing strategic alternatives, with the aim of repaying an outstanding credit facility. Both companies’ boards unanimously approved the transaction, they said.