FAIRFIELD, N.J., June 18, 2019 /PRNewswire/ -- Medimetriks
Pharmaceuticals, Inc. today announced that the Company is in
discussions for various financing options to advance MM36
(difamilast) through phase 3 pivotal trials and potential FDA
approval. As part of this process, the Company extinguished
the final debt owed Knight Therapeutics and is now free of third
party debt. MM36 is the Company's phase 3-ready asset
targeting the treatment of mild to moderate atopic dermatitis
(AD).
"We believe that MM36 may be an important new treatment for
patients suffering from mild to moderate atopic dermatitis, a
chronic, inflammatory disease that impacts the lives of more than
18 million people in the United
States," stated Bradley
Glassman, Chairman & Chief Executive Officer of
Medimetriks. "We are very appreciative of the financial
support Knight Therapeutics provided to help acquire the MM36
license and advance its development. We are focused on
obtaining the financing necessary to complete the development of
MM36, while gaining additional traction with our solid medical
dermatology business."
About MM36
Medimetriks has exclusive US rights to
develop and commercialize MM36. Discovered by Otsuka
Pharmaceutical, MM36 is non-steroidal topical anti-inflammatory
PDE4 inhibitor in development for the potential treatment of AD.
MM36 is believed to exert anti-inflammatory action by
inhibiting the production of cytokines and chemical mediators
thought to cause the signs and symptoms of AD. In particular,
MM36 exhibits highly selective inhibitory activity against PDE4
subtypes, particularly sub-type B, which is widely understood to
play a significant role in inflammation. In Phase 2
studies MM36 has been shown to be safe, well-tolerated and
provide rapid and sustained itch relief when applied twice daily to
AD patients aged two years and older.
About Atopic Dermatitis
Atopic dermatitis (AD) is a
chronic inflammatory skin condition characterized by red, swollen
and cracked skin with intense itching. The onset of AD occurs
most commonly between 3 and 6 months of age, with approximately 60%
of patients developing the condition in the first year of life and
90% by 5 years of age. The majority of affected individuals
have resolution of disease during childhood, although 10% to 30% of
patients maintain the condition throughout their lives. A
small percentage of the population develops first symptoms as
adults. It has been estimated that as much as 8% of the U.S.
population are living with AD and this disease accounts for up to
20% of patient visits to dermatology offices.
About Knight Therapeutics
Knight Therapeutics Inc.,
headquartered in Montreal, Canada,
is a specialty pharmaceutical company focused on acquiring or
in-licensing innovative pharmaceutical products for the Canadian
and select international markets. Knight Therapeutics Inc.'s shares
trade on TSX under the symbol GUD. For more information about
Knight Therapeutics Inc., please visit the company's web site at
www.gudknight.com or www.sedar.com.
About Medimetriks Pharmaceuticals, Inc.
Medimetriks
Pharmaceuticals, Inc. is a leading independent branded Dermatology
company with integrated development capabilities and robust
commercial operations. The company is dedicated to addressing
unmet skin care needs through the development, licensing and
commercialization of innovative prescription brands that advance
patient care.
For more information, please visit: www.medimetriks.com
Contact: David Addis
Senior Vice President
Medimetriks Pharmaceuticals, Inc.
(973) 882-7512, ext. 569
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SOURCE Medimetriks Pharmaceuticals, Inc.