EnZen Therapeutics and Thirona Bio Announce Investment Arrangement
SAN DIEGO, Aug. 30, 2021 /PRNewswire/ -- EnZen Therapeutics, Inc. ("EnZen") and Thirona Bio, Inc. ("Thirona") today announced that EnZen has invested in Thirona under a convertible promissory note arrangement. Proceeds from the investment will support development of Thirona's novel compound, FBM5712, which is intended for the prevention or reduction of fibrosis.
"We believe that FBM5712 is a promising preclinical asset," said Dr. Dominic King-Smith, Chief Executive Officer of EnZen. "Inhibition of TGF-β is a well validated target and Thirona's focus on local treatments for scleroderma, keloids and cancer is closely aligned with EnZen's focus on development of topical therapies for less common dermatology conditions."
FBM5712 is a novel small molecule inhibitor of the ALK-5 kinase (TGF-β receptor kinase), which is being developed by Thirona as a topical product targeting indications such as scleroderma, keloid scars and certain cancers where there are no effective therapies. The drug has been designed specifically to minimize the potential safety issues associated with systemic inhibition of the TGF-β pathway. As part of the arrangement, the parties will also discuss entering into an agreement whereby EnZen's parent, Encube Ethicals, would manufacture cGMP drug product on behalf of Thirona to support future clinical trials.
"EnZen's investment will support and accelerate Thirona's development of FBM5712," stated Dr. Gordon Foulkes, Co-Founder and CEO of Thirona Bio. "Our team has enjoyed a close collaboration with scientists in the Encube Ethicals group, and we look forward to deepening the relationship through the current transaction."
"This collaboration with Thirona broadens our horizon and creates new opportunities to touch the lives of patients," expressed Mr. Mehul Shah, Managing Director of Encube Ethicals Pvt. Ltd. and Chairman of EnZen's Board of Directors. "We look forward to executing EnZen's strategy and driving innovation to improve the quality of life for those burdened with diseases."
About Thirona Bio
Thirona Bio is focused on the development of drugs for fibrotic diseases. Target indications include scleroderma, keloid scars and certain cancers where there are no effective therapies. The company's unique approach uses a potent, topically applied drug to inhibit TGF-β "locally", thereby minimizing the potential risk of systemic toxicity. The company is headquartered in San Diego, California. More information can be found at www.thironabio.com.
About EnZen Therapeutics
EnZen Therapeutics is a privately held pharmaceutical company located in San Diego, California. The company is focused on the development of prescription topical therapies for less common dermatological conditions where substantial unmet medical needs remain. EnZen is developing its pipeline by licensing novel drug products and compounds with the backing of experienced team and is a spinout of Encube Ethicals group. Please visit www.enzentx.com for more information.
About Encube Ethicals Pvt. Ltd.
Encube Ethicals is an integrated specialized pharmaceutical player headquartered in Mumbai India and dedicated to topical formulations. It has a legacy of more than twenty-three years in manufacturing and developing topical formulations and touches the lives of millions of patients globally. Encube operates the world's largest single site topical manufacturing facility in Goa India with capacity to produce over 400 million units annually. The plant been inspected and deemed compliant by regulatory authorities from around the world and produces prescription products for the US, European and Asian markets. Encube has a growing US business focused on topical generics supported by more than 150 scientists in research and development. Encube aspires to be a global leader in topical products spanning the end-to-end value chain over the next 5 years. Please visit www.encubeethicals.com for more information.
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SOURCE Thirona Bio
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