DUBLIN, Feb. 28, 2018 /PRNewswire/ -- Nemysis Ltd, the start-up Specialty Pharma focusing on Iron Deficiency/Anemia and Gluten Intolerance, announces that it has completed a €1 million seed money round. The Company also announces it has registered four trademarks for its novel products in Iron Deficiency Anaemia and Gluten Intolerance.
Nemysis will use the funds raised to advance the development of its lead product candidate, a novel nano-particulate iron in-licensed by the UK's-Medical Research Council (MRC-Life Arc). Funds will allow completion of Pharma GMP scale up and sub-chronic toxicity studies. As a first milestone, the iron product will be filed for Novel Food status with the EU Agency EFSA (European Food Safety Authority), to tackle the multibillion Iron Deficiency market as a Food Supplement with the Trademarks Nutrafer™ and Dietofer™. Market access is anticipated to start by late 2020 and, subject to further funding, Nemysis will pursue drug status under the trademark IDAX™.
Nemysis will also advance the development of its two products for Gluten Intolerance, forecasted to reach the market in 2021. Nemysis plans to bring two new food supplements to market and then clinically prove their use in the significantly larger prescriptions market.
Marco Cartolari, VP Corporate Development, said: "We are pleased by the vote of confidence of our current investors, notably the vast majority of them have long-term experience in the Pharma business."
Danilo Casadei Massari, Co-Founder and CEO, said: " The funds raised will enable Nemysis to start on a sound scientific base, with further funding the company will rapidly align financial resources to its complete R&D and business plan."
For further info and contacts
Danilo Casadei Massari
Financial Advisers and Corporate Broker
Nemysis is a start-up tackling iron deficiency/anemia and gluten intolerance.
Initially, Nemysis unique strategy is a staged approach to the development of OTC and Prescription Products, tackling the same conditions to commercialise in different market segments. Nemysis is developing Food Supplements, Medical Matrix and Prescription products based on this strategy.
Its proprietary pipeline comprises:
i. A novel nano-particulate iron (IHAT: Iron Hydroxide Adipate Tartrate) for better homeostasis of the gut microbiome and optimal safety. IHAT is a mimic of dietary ferritin and natural digested non-haeme iron. Absorbed by endocytosis, the iron is directly freed into the enterocytes and does not redox cycle in the gut, thus preventing the onset of the commonly reported gastrointestinal side effect upon iron supplementation.
ii. A novel gastric and trypsin resistant glutenase (E40), for the oral enzymatic therapy of gluten intolerance in Celiac Disease patients and NCGS (Non Celiac Gluten Sensitivity) subjects at pH 3-5.5.
iii. A novel hyaluronic acid based and functionalised matrix aimed at protecting and deliver endoproteases in the small bowel, for the detoxification of gliadins and glutenins at the site of their immunotoxic stimulation, at pH 5.5-8
SOURCE Nemysis Ltd