Carbon Monoxide Therapies Developers Proterris and Alfama Complete Merger.
M2 EQUITYBITES-May 5, 2017-Carbon Monoxide Therapies Developers Proterris and Alfama Complete Merger
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5 May 2017 - US-based carbon monoxide therapies developer Proterris, Inc and Portuguese Carbon Monoxide-Releasing Molecules (CORMs) therapies developer Alfama, Inc. have closed a merger of the two companies that effectively creates the world's largest player in the field of carbon monoxide therapies, the companies said.
Proterris, which has a leading position in gaseous applications of CO, has acquired Alfama's CO releasing molecule assets, arguably the most extensive in the field.
In connection with the asset acquisition, Proterris has acquired all of Alfama's subsidiaries, including Alfama Lda. located near Lisbon, Portugal, which will be renamed Proterris (Portugal) Lda.
In conjunction with the merger, Proterris will also implement a collaboration with Prof. Carlos Romao of the Institute of Chemical and Biological Technology of the New University of Lisbon, one of the scientific pioneers and inventors of Aflama's CORM assets, in order to further optimize CORM candidates for a variety of indications.
Proterris looks to continue advancing its own gaseous Phase 2/3 trial in delayed graft function prior to moving one of the CORM candidates into clinical trials, which the company aims to start in the next 18-24 months.
The Proterris-Alfama proposition for CO therapy is validated by almost USD 23m in funding for three Phase 2 clinical trials using low dose CO gas.
The US National Institutes of Health has funded these trials over the past five years for indications covered by patents licensed from a group of top US universities or written by Proterris.
Alfama is the company in the development of Carbon Monoxide-Releasing Molecules (CORMs) for therapy. The company has produced hundreds of CORMs and obtained exceptional results in various animal models of chronic and acute human diseases.
CORMs have the potential to expand CO-based therapy to a range of high-value indications, can be administered orally or intravenously, and offer a very attractive therapeutic window and safety profile.
Alfama was founded in Portugal and received funding from venture capital agencies such as Portugal Ventures, along with private investors from the US, the U.K, Spain and Portugal.
Proterris is a clinical-development stage company focused on therapeutic applications of low-dose carbon monoxide.
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|Publication:||M2 EquityBites (EQB)|
|Date:||May 5, 2017|
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