Crealta Pharmaceuticals, a new specialty pharmaceutical company, has acquired substantially all of the assets of Savient Pharmaceuticals. Crealta previously announced winning an auction for these assets, signing a definitive acquisition agreement with Savient and the subsequent approval of the transaction by the U.S. Bankruptcy Court for the District of Delaware.

The key asset acquired by Crealta is KRYSTEXXA (pegloticase), a novel biologic product that was approved by the FDA in 2010. It is a PEGylated uric acid specific enzyme, or uricase, that has been shown to statistically significantly reduce uric acid levels for many patients with refractory chronic gout.

Crealta was established in August in partnership with GTCR, a private equity firm.