Zhejiang Hisun Pharmaceuticals has acquired Respirics, according to a press release.

Financial terms were not disclosed.

Respirics develops inhaler technology, including dry-power inhalers known as Acu-Breathe, and MD-Turbo, which delivers metered-dosages of drugs.

Respirices Chief Executive Officer Mark Celeste is joining Hisun Pharmaceuticals USA, a subsidiary, and will direct the respiratory business unit, Zhejiang Hisu said.

Bob Casper, one of Respirics’ founders and inventors, will work with the new owners as a consultant.

Scale Finance provided part-time chief financial officer services to Respirics and included the press release in its latest newsletter.

In May 2010, Respirics raised $3.7 million in venture capital and named Celeste as its CEO. It also raised $2.5 million in 2005.
Investors included Research Triangle Ventures.

The company launched in the Triangle in 2001, created by three former Glaxo executives, Among them was Gilbert Mott who served as CEO until 2009.

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