HTX Spins Off New Company (Australia)
This article was originally published in PharmAsia News
Executive Summary
Australian diagnostics company, HealthLinx, is in the process of setting up a new subsidiary focused on drug research and development. The subsidiary, called Proaegis Biosciences, is designed to further treatments for acute respiratory distress syndrome and ulcerative colitis. Already HealthLinx has in-licensed patents for drugs to treat each condition to Proaegis. The treatments, CR014 and Follistatin, are expected to enter Phase I clinical trials soon. HealthLinx plans to retain a 36 percent interest in the new company. In the meantime, the company has already raised $1 million of the $5 million it is hoping to retain through initial investors. (Click here for more
You may also be interested in...
US Q1 Consumer Health Earnings Preview: Label This One Historic And Challenging But Promising
US OTC drug and supplement firms’ reports of results for the first three months of 2024 began on April 19 with P&G. JP Morgan analysts say while “some retailers in the US in particular” are reducing consumer health inventories, for the overall sector they expect “a healthier balance of positive volume and lower pricing contribution.”
Keeping Track: Cancer Approvals From Lumisight Imaging To Adjuvant Alecensa
The US FDA’s approval of Lumicell’s optical imaging agent Lumisight makes a dozen novel approvals in 2024 for the Center for Drug Evaluation and Research.
Partisan Politics Returns To US FDA Congressional Oversight
The US FDA has stood out as an agency that tends to draw broad bipartisan support amid a generally rancorous and divided Congress. A House hearing, however, may be a sign that those days are over.