Private equity firm Stanley Capital has acquired Dublin-headquartered pharmaceuticals company Noden Pharma from US-listed PDL BioPharma. The total value of the transaction, set to close in August, will result in payments to PDL of up to $48.25m in cash, the company said in a statement.

Noden focuses on acquiring prescription medicines across a broad range of therapeutic areas in international markets. Founded in 2016, it specialises in the cardiovascular space, serving patients who are intolerant to mainstream treatments.