GLD Partners, LP Acquires Seelos Therapeutics, Inc. Assets, Strengthening GLD’s Growing Life Sciences Portfolio

GLD Announces Successful Closing of Seelos Assets; Includes Ketamine and Trehalose Programs Advancing into Phase 3 Clinical Trials

LOS ANGELES, Oct. 21, 2025 (GLOBE NEWSWIRE) -- GLD Partners, LP, with a growing footprint of investments in life sciences, healthcare, and biotech, today announced the successful acquisition of select assets from Seelos Therapeutics, Inc. through the Chapter 11 bankruptcy process.

Following its acquisition of Seelos’ senior secured debt, GLD served as the stalking horse bidder in the U.S. Bankruptcy Court in the Southern District of New York, and emerged as the successful acquirer through a Section 363 sale. The transaction includes Seelos’ late-stage ketamine and trehalose programs, both representing high-value opportunities in central nervous system (CNS) and rare disease therapeutics.

“Seelos’ ketamine and trehalose assets align with our strategy of acquiring scientifically validated, late-stage programs that were undercapitalized but hold transformative potential,” said Daniel Gordon, Managing Director of GLD Partners LP. “Merged into our existing biotech portfolio, these programs will benefit from GLD’s focused regulatory strategy and execution discipline, enabling efficient advancement toward patient impact.”

Clinical and Regulatory Pathway

While prior trials of both ketamine and trehalose faced operational and clinical challenges, the underlying science remains compelling. With enhancements to the intellectual property and a renewed focus on trial design and execution, GLD aims to advance both programs through late-stage development to address high unmet needs in CNS and rare disease therapeutics.

The ketamine program is positioned as a CNS therapy for major depressive disorder (MDD) and related neuropsychiatric conditions. GLD will initiate confirmatory Phase 3 pivotal trials aligned with FDA guidance, leveraging existing safety and efficacy data with enhanced study design and execution. 

The trehalose program is a disease-modifying therapy candidate for rare neurodegenerative and lysosomal storage disorders. GLD will progress trehalose into adaptive Phase 2/3 studies, supported by recent regulatory feedback and opportunities for orphan drug designation and expedited development.

Investor and Market Impact

• Large market opportunities:

• • According to a Future Market Insights analysis, the global MDD therapeutics market is expected to exceed $15 billion annually by 2035, with ketamine-based treatments projected to drive significant growth.

• • Trehalose’s rare disease applications reside within a multibillion-dollar space for rare disease treatments, where orphan drug frameworks and premium per-patient pricing have supported high-value therapeutic opportunities.

• Capital-efficient acquisition: Through a capital-efficient acquisition, GLD acquired Seelos’ senior secured debt prior and assets at an attractive valuation with strong upside potential. 
• High-value synergy: These assets not only offer stand-alone value but also strengthen GLD’s existing portfolio of CNS and rare disease programs, enabling both clinical and commercial synergies.
• Pipeline acceleration: With enhanced trial design and GLD’s operational infrastructure, near-to mid-term value inflection points are expected from upcoming Phase 3 trials and regulatory milestones.

“This transaction underscores our commitment to identifying underappreciated assets and executing the strategies needed to realize their full potential,” Gordon added. “We’re confident these programs can achieve meaningful clinical milestones and contribute lasting value across our life sciences portfolio.”

About GLD Partners LP

GLD Partners LP invests in private companies focused on healthcare and biotech innovation. The firm’s life sciences portfolio centers on advancing next-generation therapeutic platforms that have the potential to dramatically improve patient outcomes and medical breakthroughs. By combining deep scientific expertise with operational and financial leadership, GLD builds companies capable of delivering transformative medicines. For more information, https://www.gldlp.com/. 

Media Contact:
Kelly Ferraro
GLD Partners, LP
1-646-275-7040
kelly@rivernorthagency.com

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