Private Equity-Backed Crealta Makes Its First Move With Savient Deal

A startup called Crealta Pharmaceuticals will acquire most of Savient’s assets, including the marketed gout drug Krystexxa, for $120.4 million following a bankruptcy court auction.

Crealta Pharmaceuticals, a startup backed by investment firm GTCR, unveiled its first significant deal Dec. 11, when it acquired gout drug Krystexxa (pegloticase) and other assets of troubled Savient Pharmaceuticals Inc.

Crealta will pay $120.4 million for Savient’s pharmaceutical assets through an agreement brokered at auction in U.S. Bankruptcy Court. In...

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