Cycle Completes Acquisition of Applied Therapeutics

Cycle Pharmaceuticals has completed the acquisition of NASDAQ-listed Applied Therapeutics, a clinical-stage biopharmaceutical company. Applied's lead drug candidate, govorestat, is a treatment for CNS rare metabolic diseases, including Classic Galactosemia, Charcot-Marie-Tooth Sorbitol Dehydrogenase Deficiency, and phosphomannomutase 2 congenital disorder of glycosylation. The transaction is funded from cash on hand, and Cycle will expand its offerings in rare metabolic diseases.