Psychedelics Developer Lobe Sciences Acquires SCD Company
April 19, 2023
Rare Daily Staff
Canadian therapeutic psychedelic developer Lobe Sciences said it has signed a share purchase agreement to acquire Altemia & Company and its sickle cell disease assets and intellectual property for $3.8 million.
Lobe said in the second half of 2023 it will launch Altemia, its first commercial product, a medical food for the management of sickle cell disease. Altemia is an oral emulsion consisting of a proprietary mixture of polyunsaturated fatty acid triglyceride esters clinically evaluated to reduce inflammation associated in adults with sickle cell disease (SCD). The SCD assets also include an experimental therapy in clinical development.
Sickle cell disease is a genetic disorder of the red blood cells caused by a mutation in the HBB gene. This gene encodes a protein that is a key component of hemoglobin, a protein complex whose function is to transport oxygen in the body. The result of the mutation is less efficient oxygen transport and the formation of red blood cells that have a sickle shape. These sickle shaped cells are much less flexible than healthy cells and can block blood vessels or rupture cells. People with sickle cell disease typically suffer from serious clinical consequences, which may include anemia, pain, infections, stroke, heart disease, pulmonary hypertension, kidney failure, liver disease, and reduced life expectancy.
Philip Young, chairman and CEO of Lobe Sciences, said the transaction will allow it to become a revenue generating biotech. It plans to use the revenue from the Altemia sales to fund ongoing and planned clinical activities for two psychedelic compounds in development.
“By targeting the 55 major SCD clinics in the United States we will be able to efficiently provide support and education for clinicians and other health care providers charged with treating this vulnerable population,” said Young. “As we prepare for launch and commercialization, I will be able to call upon my previous successes launching and selling orphan drugs in specialty markets. Altemia will be positioned as a cost-effective medical food option for patients and payers seeking alternatives to drug products with significant side effects.”
Photo: Philip Young, chairman and CEO of Lobe Sciences
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