Cipher Pharmaceuticals, a growing specialty pharmaceutical company focused on dermatology, has acquired the assets of Melanovus Oncology Inc. (Melanovus), a Hershey (Pennsylvania)-based life sciences company. The assets include seven pre-clinical compounds for the treatment of melanoma and other cancers.
Founded in 2012, Melanovus acquired an exclusive global licence to a library of compounds and related intellectual property from the Penn State Research Foundation. The compounds originate from work done by Dr. Gavin Robertson, professor of pharmacology, pathology, dermatology and surgery at Penn State University, and director of the Penn State Hershey Melanoma Center.
"The acquisition of these pre-clinical assets demonstrates our commitment to building a complete dermatology franchise and investing prudently in potentially transformative compounds," said Shawn O'Brien, president & chief executive officer of Cipher. "Melanoma is the deadliest of the skin cancers and incidence rates have been rising for more than 30 years. We look forward to continuing the work of Dr. Robertson and his team, who have invested more than 12 years in the development of these promising compounds."
Melanovus' lead product candidate, Nanolipolee-007, is a liposomal formulation of a plant-derived compound that is a first-in-class cholesterol-transport inhibitor which has demonstrated anti-proliferative activity against certain melanoma cell lines (including B-raf resistant strains) in vitro as well as in early in vivo mouse studies. Cipher will pursue pre-clinical studies leading to Investigational New Drug status with the US Food and Drug Administration, Health Canada and other health authorities. The plan for the development of the remaining compounds in the portfolio has not yet been established.
The transaction includes an upfront payment to Melanovus of US$500,000, as well as the payment of certain IP expenses related to patent prosecution and maintenance.