MannKind becomes formulation and preclinical studies of a new chemical unit owned by Thirona. carry out
MannKind also bought a convertible bond from Thirona
WESTLAKE VILLAGE, CALIFORNIA and SAN DIEGO, June 10, 2021 (GLOBE NEWSWIRE) – MannKind Corporation (Nasdaq: MNKD) and Thirona Bio, Inc. announced today that they have completed a transaction to advance the development of a novel compound with potential in multiple indications.
FBM5712 is a novel small molecule inhibitor of ALK-5 kinase (transforming growth factor-β (TGF-β) receptor kinase) that Thirona is developing as a topical product to prevent and / or reduce skin fibrosis. “TGF-β is also implicated in fibrotic lung disease and ALK-5 has been validated as a potential target for idiopathic pulmonary fibrosis,” said Thomas Hofmann, MD, Ph.D., chief scientific officer of MannKind Corporation.
Under the terms of the collaboration agreement, the companies will evaluate the therapeutic potential of Thirona’s topical TGF-β inhibitor for the treatment of pulmonary fibrosis. MannKind will formulate FBM5712 as a dry powder formulation. If initial studies are promising, MannKind can exercise certain rights to seek a full license for the compound for clinical development and commercialization for the treatment of fibrotic lung diseases.
In addition to the collaboration agreement, the companies have entered into a purchase agreement for convertible notes to support Thirona’s Series A financing.
“This collaboration with MannKind gives Thirona the opportunity to expand the development of FBM5712 with a new formulation to include fibrotic lung diseases,” said Dr. Gordon Foulkes, Founder and Chief Executive Officer of Thirona Bio. “We continue to focus on the dermatological uses of this drug – against scleroderma, keloid scars and certain types of cancer – and are now looking forward to investigating lung indications with the experienced MannKind team.”
“We recently announced our goal of bringing one new product from our pipeline to market each year between 2025 and 2030,” said Michael Castagna, PharmD, chief executive officer of MannKind Corporation. “We appreciate the opportunity to evaluate FBM5712 and evaluate its potential in support of our pipeline ambitions.”
About Thirona Bio
Thirona Bio focuses on the development of drugs against fibrotic diseases. Target indications are scleroderma, keloid scars, and certain types of cancer for which there are no effective therapies. The company’s unique approach uses a potent, topically applied drug to “locally” inhibit TGF-β, thereby minimizing the potential risk of systemic exposure. The company is headquartered in San Diego, California. Further information is available at www.thirona.bio.com.
About MannKind Corporation
MannKind Corporation (Nasdaq: MNKD) is focused on the development and marketing of inhaled therapeutic products for patients with endocrine and rare lung diseases. MannKind currently markets Afrezza® (human insulin) Inhalation Powder, the company’s first FDA-cleared product and the only ultra-fast-acting, inhaled mealtime insulin in the United States, where it is available from pharmacies nationwide. Afrezza is also available on prescription in Brazil, where it is marketed by the company’s partner, Biomm SA. MannKind was founded in 1991 and is headquartered in Westlake Village, California with a manufacturing and R&D facility in Danbury, Connecticut. The company also has field and medical representatives in the United States. Please visit mannkindcorp.com to learn more.
This press release contains forward-looking statements that involve risks and uncertainties. Words such as “believes,” “anticipates,” “planet,” “expects,” “intends,” “will,” “target,” “potentially” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on MannKind’s current expectations. Due to these risks and uncertainties, the actual results and the timing of events could differ materially from those anticipated in such forward-looking statements and that testing of a product candidate may not produce successful results or be consistent with previous testing. For a discussion of additional factors, see MannKind’s Annual Report on Form 10-K for the year ended December 31, 2020 and MannKind’s other filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are restricted in their entirety by this caution, and MannKind assumes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.
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