Riva Ridge Capital completed the acquisition of FC2 Business from Veru for $18m.

Riva Ridge Capital, an investment management firm, completed the acquisition of FC2 Business from Veru, a late clinical stage biopharmaceutical company, for $18m. “The monetization of the FC2 business allows Veru to be a pure biopharmaceutical company focusing its additional nondilutive resources on the execution and development of its promising late-stage clinical drug pipeline [...] We are excited about the Company’s successful strategic evolution to the treatment of cardiometabolic diseases with a fully enrolled Phase 2b QUALITY clinical trial evaluating enobosarm to preserve muscle and augment fat loss for a higher quality weight loss in patients receiving WEGOVY®, a GLP-1 receptor agonist. We are expecting topline clinical results for this study in January 2025,” Veru Mitchell Steiner, Chairman, President and CEO.