NEW YORK--(EON: Enhanced Online News)--Retrophin, Inc. (OTCQB: RTRX) today announced that it will provide funding, over a three-year term, to The Hospital for Sick Children (“SickKids®”), Canada’s largest pediatric academic health sciences center, in support of its study entitled, “Carrier Mediated Delivery of Therapeutic Proteins into the Brain.” The Company’s funding to SickKids will be matched by Brain Canada, as part of a Multi-Investigator Research Initiative Grant.
“Carrier Mediated Delivery of Therapeutic Proteins into the Brain.”
In consideration of its support, Retrophin will receive the exclusive option to all licensable intellectual property (“IP”) emanating from the study, including the right to utilize such IP for the potential development of treatments that may include Rett Syndrome, Fragile X Syndrome, Spinal Muscle Atrophy, Purine Nucleoside Phosphorylase (“PNP”)-Deficiency or Canavan Disease. Financial terms of the agreement were not disclosed.
Commenting on today’s news, Martin Shkreli, Founder, President and Chief Executive Officer of Retrophin, noted, “We are honored to be able to support SickKids’ esteemed research team in this important study, aimed at developing a new method of delivering therapeutic compounds to the brain. We are hopeful that the results of the study will allow Retrophin to pursue the development of novel new therapies for several serious, rare and debilitating childhood diseases.”
About Brain Canada
Brain Canada is the successor to NeuroScience Canada, a national, charitable organization that develops and supports collaborative, multidisciplinary, multi-institutional research across the neurosciences. Through partnering with the public, private and voluntary sectors, Brain Canada connects the knowledge and resources available in this area to accelerate neuroscience research and funding, and maximize the output of Canada’s world-class scientists and researchers. In 2006, NeuroScience Canada received the Conference Board of Canada/Spencer Stuart non-profit National Award in Governance.
About The Hospital for Sick Children
The Hospital for Sick Children (SickKids) is recognized as one of the world’s foremost pediatric health-care institutions and is Canada’s leading center dedicated to advancing children’s health through the integration of patient care, research and education. Founded in 1875 and affiliated with the University of Toronto, SickKids is one of Canada’s most research-intensive hospitals and has generated discoveries that have helped children globally. Its mission is to provide the best in complex and specialized family-centered care; pioneer scientific and clinical advancements; share expertise; foster an academic environment that nurtures health-care professionals; and champion an accessible, comprehensive and sustainable child health system. SickKids is proud of its vision for Healthier Children. A Better World. For more information, please visit www.sickkids.ca.
Retrophin is a pharmaceutical company focused on the discovery and development of drugs for the treatment of debilitating and often life-threatening diseases for which there are currently no viable options for patients, as well as treatments for central nervous system (CNS) disorders. The Company’s pipeline includes compounds for several catastrophic diseases, including Focal Segmental Glomerulosclerosis (FSGS), Pantothenate Kinase-Associated Neurodegeneration (PKAN), Duchenne Muscular Dystrophy and others. Retrophin’s lead compound, RE-021, is scheduled to begin enrollment in a potentially pivotal Phase 2 clinical trial for FSGS during 2013. The Company also intends to initiate clinical trials for intranasal oxytocin as a potential treatment for schizophrenia and autism. For additional information, please visit www.retrophin.com.
This press release contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995, regarding the research, development and commercialization of pharmaceutical products. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. No forward-looking statement can be guaranteed. Forward-looking statements in the press release should be evaluated together with the many uncertainties that affect the Company’s business. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.