Turing Pharmaceuticals AG has acquired the exclusive rights to market Daraprim (pyrimethamine) in the U.S. from Impax Laboratories Inc. The acquisition by Turing is part of a strategic effort focused on treatments for toxoplasmosis and other serious infectious diseases. The company also announced plans to invest in the development of new drug candidates for toxoplasmosis.

According to terms of the deal, Turing will acquire all U.S. marketing rights and assume all regulatory responsibilities, effective upon registration of the transfer of all necessary regulatory authorizations to Turing.

“The acquisition of Daraprim and our toxoplasmosis research program are significant steps along Turing’s path of bringing novel medications to patients with serious disorders, some of whom often go undiagnosed and untreated,” said Martin Shkreli, Turing’s founder and chief executive officer. “We intend to invest in the development of new drug candidates that we hope will yield an even better clinical profile, and also plan to launch an educational effort to help raise awareness and improve diagnosis for patients with toxoplasmosis.”

In other news, Turing has raised $90 million in Series A financing, which it says is one of the largest in biotech history, and intends to invest the proceeds in acquisitions as well as advancing and accelerating its growing pipeline of novel drug candidates.

“We are very happy with the institutional interest in our first capital raise. It’s a great reflection on our business model and the collective track record of our leadership team developing breakthrough treatments for serious diseases,” Mr. Shkreli said. “We plan to accelerate clinical trials for several treatments and are pleased to announce an immediate addition to our portfolio.”