A biopharmaceutical company based in the Borders has completed an exclusive global licensing deal with a New Jersey university regarding a “potentially revolutionary” treatment for a disease causing kidney stones.
PharmaKrysto has sealed the agreement with Rutgers University for the compound, PK10, which is used to treat people with cystinuria, an inherited disease that causes large, painful and debilitating crystals of amino acid to form in the kidneys. The firm, whose focus is on developing novel medicines tackling rare conditions, said PK10 acts as a molecular “imposter” to prevent such crystals forming.
The firm has also seen PK10 granted “orphan designation”, which is designed to encourage the development of treatments for rare diseases, by both the US Food and Drug Administration and the European Medicines Agency.
PharmaKrysto will continue its preclinical development of PK10 with a view to entering clinical studies and treating people with cystinuria as soon as possible, and the company is initiating an early-stage fundraising round to prepare for patient trials and says it has already received indications of support and interest from private and regional public sources.
Julian Howell, chief executive of PharmaKrysto, said: “These three events represent the achievement of major milestones for PharmaKrysto… we are determined to develop this solution for those people who continue to experience severe, frequent pain and complicated kidney disease.”