NeuroVive, a leading mitochondrial medicine company, has completed the acquisition of a portfolio of novel cyclophilin inhibitors, technology platform assets and related intellectual property rights from the UK biotech company Biotica Ltd. The acquisition of these assets is important strategically as it will allow NeuroVive to broaden and deepen its pipeline of novel mitochondrial medicines.
No financial details of the acquisition are being disclosed.
The portfolio of novel cyclophilin inhibitors is from a new class of molecules called Sangamides based on a novel and unique chemistry platform of polyketides around which NeuroVive has also acquired the intellectual property rights. These novel cyclophilin inhibitors are expected to form the basis of the next-generation of NeuroVive products for a broad range of diseases including cardio- and neuroprotection.
NeuroVive is presently developing a portfolio of products to treat important acute cardiovascular and neurological conditions through mitochondrial protection. Its leading products, CicloMulsion and NeuroSTAT, are special formulations of the cyclophilin inhibitor cyclosporine for two prioritized indications, the prevention of reperfusion injury following stenting after myocardial infarction and traumatic brain injury respectively. CicloMulsion is currently in a 1,000 patient phase III trial assessing its ability to reduce overall mortality and the number of patients developing heart failure following stenting in patients with myocardial infarction. This trial is expected to complete recruitment by the end of 2013.
Mikael Bronnegard, CEO of NeuroVive Pharmaceutical said, “The acquisition of Biotica’s pipeline of novel cyclophilin inhibitors will help to maintain NeuroVive’s current position as one of the leading mitochondrial medicine companies and developers of cyclophilin inhibitors for cardio- and neuroprotection. These molecules are the most potent compounds for reducing mitochondrial dysfunction we have so far tested and with their novel polyketide chemistry greatly strengthen our product pipeline. Ownership of these Sangamides places NeuroVive in an excellent position to bring to market significantly improved and patent protected follow-on products that will further enhance the role of mitochondrial medicine across a range of diseases.”
Biotica Technology Limited is a privately-held biotechnology company that discovers and develops novel polyketide-based therapeutics to create new medicines for a variety of serious diseases.