PALO ALTO, Calif.--(BUSINESS WIRE)--LifeMax Laboratories, Inc. (“LifeMax”), a private company focused on treating diseases with few or no therapeutic options, today announced an exclusive worldwide license from Novartis Pharma AG for the right to develop, manufacture and commercialize BPR277, a clinical stage asset with positive clinical proof of concept for the treatment of Netherton Syndrome.
Netherton Syndrome is an autosomal recessive monogenic disease caused by mutations in the SPINK5 gene that encodes a serine peptidase inhibitor. Symptoms affect the skin, hair and immune systems. Netherton Syndrome in newborns can lead to failure to thrive and can be life-threatening. Currently there are no FDA approved products, and treatment is limited to symptom relief with unproven efficacy and unwanted side effects. Netherton Syndrome is a rare condition with an estimated prevalence of 1-9 per 1,000,000.
“We are very excited to enter into this licensing agreement with Novartis and are committed to continuing the development of BPR277 which fits well with our corporate strategy of developing drugs for diseases with few or no therapeutic options. This relationship is a testament to our drug development capability and expertise. We look forward to bringing this much needed therapy to people with Netherton Syndrome, and potentially other diseases with skin barrier impairment,” said Larry Hsu, LifeMax’s Co-founder and CEO, an industry veteran who previously founded and built Impax Laboratories into a publicly traded multi-billion dollar company.
Under the terms of the licensing agreement, Novartis will, among others, receive an upfront payment, development and regulatory milestones as well as royalty on net sales.
About LifeMax Laboratories Inc.
LifeMax Laboratories, Inc. (www.lifemaxlabs.com), a wholly-owned subsidiary of LifeMax Healthcare International Corporation (www.lifemaxhealthcare.com), is a clinical-stage biotech company focused on treating diseases with few or no therapeutic options. LifeMax is applying its expertise and in-depth experience with drug development and commercialization to advance its well-balanced portfolio of products addressing critical unmet medical needs. It has recently closed a Series A round of $25 million.