SOUTH SAN FRANCISCO, Calif., April 11, 2017 /PRNewswire/ -- Spitfire Pharma, Inc., ("Spitfire") is pleased to announce that research concerning their novel dual acting oxyntomodulin-based drug candidate SP-1373, has been selected for presentation at the American Diabetes Association's 77th Scientific Sessions. (Sunday Jun 11, 2017 12:00 PM - 1:00 PM, Poster 322-LB in category 22-A, Obesity-Animal)
"Type 2 diabetes, obesity and non-alcoholic steatohepatitis are major medical problems that are still in need of additional therapeutics. Spitfire Pharma LLC has been interested in harnessing the beneficial effects of the body's natural dual acting hormone oxyntomodulin (GLP-1/glucagon dual receptor agonist). A successful drug of this nature could add to the toolkit of physicians caring for such patients," said Dr. Andrew J. Perlman, Spitfire's Chief Medical Officer.
About Spitfire Pharma, Inc.
Spitfire Pharma, Inc., is a "virtual" company which was created to hold the ownership of the SP-1373 development program. Spitfire is funded by Velocity Pharmaceutical Holdings, LLC (VPD). The SP-1373 development program is managed under contract by VPD.
About Velocity Pharmaceutical Development, LLC
VPD is a pharmaceutical development organization dedicated to rapidly advancing promising drug candidates to clinical proof of concept using a highly virtual management model. VPD seeks to acquire promising drug candidates, generally within a year of their entering human clinical trials or after initial human clinical data have been generated. VPD then manages a development program for each drug candidate intended to generate convincing human proof of concept data (generally by conducting a phase 2 clinical trial). Following successful human proof of concept, VPD then seeks a large pharmaceutical company acquirer for each program. VPD is staffed by a seasoned team of clinical drug developers with expertise identifying attractive drug candidates, target markets, and designing and managing outsourced clinical trials. This expert team manages multiple single asset companies to remove the costly overhead and misaligned incentives present in traditional biotechnology company structures. VPD believes this new capital-efficient model will yield attractive new drugs to treat patients with significant unmet clinical needs. The company is located in South San Francisco, California. More information is available at www.vpd.net.
About Velocity Pharmaceutical Holdings, LLC
Velocity Pharmaceutical Holdings, LLC, is an entity funded by Presidio Partners that makes investments in highly virtual, project-focused pharmaceutical development companies that are managed by Velocity Pharmaceutical Development, LLC. More information is available at www.vpd.net and www.presidiopartners.com.
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SOURCE Spitfire Pharma, Inc.