- Accelerates Altum's vision to build a premier, global women's health company
- Incorporates Lexi's experienced management team into Altum Pharmaceuticals
- Strengthens Altum's portfolio and strategic fit for women's health with AP-002 (a novel bone and tumor targeting agent)
VANCOUVER, April 30, 2018 /PRNewswire/ - Altum Pharmaceuticals Inc. ("Altum" or "Altum Pharmaceuticals") announced today that it has completed the acquisition of Lexi Pharma Inc. ("Lexi Pharma"), a Canadian pharmaceutical company focused on the development of AP-002, a new chemical entity (NCE) small molecule with an active US FDA IND (Investigational New Drug application). AP-002, is a novel molecule, that selectively targets bone resorption while also demonstrating anti-tumor activity. Preclinical studies have shown that AP-002 selectively inhibits osteoclast differentiation and bone resorption with a novel mechanism of action distinct from other anti-bone resorption agents.
The acquisition provides Altum with an enhanced pipeline by adding potential therapies for bone and oncology disorders, as well as, the addition of a world class management team. Lexi Pharma team members have collectively filed 15 New Drug Applications (NDAs) and have been involved in the development and launch of successfully marketed products including: Byetta®, Bydureon®, Camptosar®, Dacogen®, Ellence®, Emcyt®, Erbitux®, Folotyn®, Panretin®, Symlin®, Sutent®, Targretin®, Vidaza®, Velcade®, and Zarnestra®.
"We are delighted to have the Lexi team join us at Altum to help us realize the goal of addressing unmet needs for women's health with novel therapeutic approaches. As part of the merger, we are thrilled to have experienced and motivated female C-level executives joining Altum to help implement our novel strategies," said Altum Pharmaceuticals' Chief Executive Officer, Dr. Ahmad Doroudian. "The merger represents another important step in the execution of our strategy to become a global player in women's health."
As part of the Altum's merger with Lexi Pharma:
- Ali Ardakani, the Chief Executive Officer of Lexi Pharma, will join Altum's board.
- Dr. Angela Ogden, will join Altum as the new Chief Medical Officer.
- Dr. Gina Stetsko will join Altum as the new Chief Development Officer.
- Dr. Hooshmand Sheshbaradaran, will join Altum as Chief Operating Officer.
Lexi Pharma's Chief Medical Officer Dr. Angela Ogden said, "We are excited to become part of Altum Pharmaceuticals. Our combined pipeline allows us to focus on specific therapeutic needs of women, such as, HPV and bone disorders. Our experienced and cohesive development team looks forward to bringing new treatment paradigms to women around the world."
About Altum Pharmaceuticals, Inc.
Altum is a clinical-stage biopharmaceutical company focused on the development of therapeutics for women's health. For more information visit www.altumpharma.com.
AP-001 is a topical cream delivery system that incorporates interferon Alpha-2b in Altum's proprietary, patented BiPhasix™ technology which enhances the delivery of biomolecules. AP-001 is intended to fill the posterior fornix cavity of the vagina following self-administration, thereby coating the cervix for optimal drug delivery.
Altum is developing AP-001 to treat certain cutaneous genital lesions caused by human papillomavirus (HPV) infections that manifest and propagate in the basal epidermal layer. Our most advanced program is the development of AP-001 for the treatment of cervical intraepithelial neoplasia (CIN) in women infected with high-risk (HR) HPV.
AP-001 has completed successful Phase 2 clinical trials that demonstrated safety and tolerability and the potential for efficacy.
AP-002 is a small molecule NCE with an active US IND. It is a novel, stable, highly orally bioavailable gallium-based compound that selectively targets both bone tissue (preventing bone resorption) and bone tumors (killing the tumor cells).
Preclinical studies have shown that AP-002 uniquely and selectivity inhibits osteoclast differentiation and bone resorption through a different mechanism of action from other anti-bone resorption agents, such as, Zometa® and Xgeva®.
In addition, the novel anti-bone resorption activity of AP-002 is under investigation for severe osteoporosis in preclinical studies.
BiPhasix™ is a patented liposomal delivery system utilizing lipid bilayers that entrap both aqueous and oil phases in the form of a stabilized emulsion. This makes it possible to achieve greater formulation performance than possible with traditional creams, gels or ointments, including conventional liposomal delivery systems. Thus, the BiPhasix™ delivery system combines the advantages of liposomes and micro-emulsions, offering a wider range of formulation options for a variety of drug substances including water soluble compounds, lipid soluble compounds, proteins, peptides and plasmids.
SOURCE Altum Pharmaceuticals Inc.