WALTHAM, Mass., Dec. 17,
2018 /PRNewswire/ -- Pyramid Biosciences, Inc.
(www.pyramidbio.com), a Boston-based biotechnology company developing
new therapies focused on the modulation of cell surface receptors
today announced it has entered into an exclusive, worldwide
licensing agreement with AstraZeneca PLC (NYSE: AZN) for the
development and commercialization rights to a novel Tropomyosin
receptor kinase (TRK) modulator, PBI-100. Pyramid Biosciences
seeks to develop the TRK modulator for a range of dermatological
and inflammatory diseases, including psoriasis and atopic
dermatitis.
"We are pleased that AstraZeneca, a global leader in
biopharmaceuticals, has chosen our team to develop and eventually
commercialize this compound," says Dr. Kollol Pal, CEO and Co-Founder of Pyramid
Biosciences, Inc. "PBI-100 has the potential to offer patients
living with myriad dermatological and inflammatory diseases new
options for treatment."
"This agreement provides an opportunity for the development of
PBI-100 in therapeutic indications outside of AstraZeneca's core
focus areas," says Kumar Srinivasan,
VP Scientific Partnering and Alliances, IMED Biotech Unit at
AstraZeneca. "Through the agreement, Pyramid Biosciences will
investigate the molecule as a potential new treatment option for
patients with debilitating dermatological diseases."
Skin disease is one of the leading causes of global disease
burden, affecting millions of people worldwide.1PBI-100
is a clinically-validated TRK modulator which displays anti-itch
and anti-inflammatory effects. Pyramid Biosciences will conduct
further clinical testing of PBI-100 for use in selected
dermatological indications beginning in 2019.
Under the agreement, Pyramid Biosciences, Inc. licenses
exclusive rights to develop and commercialize the compound
globally. Financial terms of the agreement were not disclosed.
About Pyramid Biosciences Inc.
Pyramid Biosciences is dedicated to discovering and developing
targeted therapeutics for a wide range of disorders that are
regulated by the tropomyosin receptor kinase (TRK) family. By
precisely and selectively modulating the actions of these
fundamental cell surface receptors, we can control the key
signaling pathways responsible for a patient's disease, condition
or symptoms.
For more information, please visit
www.pyramidbio.com
Investor Inquiries:
Jordan Leef
CBO, CFO
and Co-Founder
Pyramid Biosciences, Inc.
Email: info@pyramidbio.com
Phone: 781.530.4461
1Journal of the American Academy of Dermatology.
Volume 76, Issue 5, Pages 958–972.e2
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SOURCE Pyramid Biosciences, Inc.