For Immediate Release:
February 06, 2014
Traverse Biosciences Executes Exclusive Option Agreement to License Proprietary Library of Polyenolic Zinc-Binding Agents from the
Research Foundation for SUNY
Identifies Lead Drug Candidate, TRB-N0224, for the Treatment and
Control of Canine Periodontal Disease
Stony Brook, NY; February 06, 2014: Traverse Biosciences announced today that it has executed an exclusive option agreement with The Research Foundation for The State University of New York (Research Foundation) for access to a proprietary library of chemically modified curcumins invented by Drs. Lorne Golub (Department of Oral Biology and Pathology, School of Dental Medicine, Stony Brook University) and Francis Johnson (Departments of Chemistry and Pharmacology; President, Chem-Master International, Inc.). The novel curcumin analogues act to resolve inflammation by normalizing excessive levels and activity of matrix metalloproteinases (MMPs) and pro-inflammatory mediators. Dr. Golub is also the lead inventor of the only FDA-approved MMP inhibitors, Periostat® and Oracea®, now marketed by Galderma after the company acquired Collagenex Pharmaceuticals for $420M in 2008.
Traverse Biosciences also announced that it has identified a lead drug candidate, TRB-N0224, envisioned as the first FDA-approved, once-daily, edible prescription medication for the prevention and control of canine periodontal disease. Periodontal disease affects approximately 80% of dogs by the age of 3, with the highest incidence in smaller breeds and older dogs. There are over 83M domestic dogs in the US alone, with 47% of households owning one or more. The company also intends to pursue additional indications of TRB-N0224, as well as the commercialization of other drug candidates in the pipeline.
Mr. Joseph Scaduto, Founder of Traverse Biosciences, stated “Execution of this exclusive option agreement provides Traverse with broad access to a pipeline of promising drug candidates invented by world-renowned scientists with a track record of success.” He added, “We are excited to work closely with the Research Foundation to rapidly advance this technology towards market, for the benefit of health, society and the innovation economy.”
“We look forward to cultivating an ongoing partnership with Traverse Biosciences to develop and commercialize these novel drug candidates for a variety of therapeutic indications impacting both human and animal health,” stated Ms. Heather Hage, Senior Director, Innovation and Partnerships at the Research Foundation. She added, “The Research Foundation is highly supportive of new venture creation based on academic technologies invented at our premier academic institutions across New York State, and we applaud Traverse for its commitment to the burgeoning entrepreneurial ecosystem in the region.”
Dr. Lorne Golub, Distinguished Professor in the School of Dental Medicine at Stony Brook University, stated “I am very excited to work with Traverse Biosciences to commercialize our new molecules for the treatment of chronic inflammatory diseases affecting humans and animals.”
Dr. Francis Johnsons, Professor of Chemistry and Pharmacology at Stony Brook University, and President of Chem-Master International, stated “These new molecular entities are poised for further commercial development, and I am pleased to partner with Traverse Biosciences to advance these novel drug candidates towards market.”
About the Research Foundation for SUNY: The Research Foundation for The State University of New York is the largest, most comprehensive university-connected research foundation in the country. The RF manages SUNY’s research portfolio providing essential sponsored programs administration and innovation support services to SUNY faculty and students performing research in life sciences and medicine; engineering and nanotechnology; physical sciences and energy; social sciences, and computer and information sciences. The RF moves SUNY ideas and inventions to the marketplace collaborating with business and industry to create new opportunity and new jobs for New York State. To learn more about the RF visit www.rfsuny.org.
About Traverse Biosciences: Traverse Biosciences is a privately-held emerging bioscience company launched to commercialize a pipeline of novel drug candidates for the treatment of inflammatory diseases and related conditions affecting humans and animals. The company’s proprietary lead compound, TRB-N0224, is envisioned as the first FDA-approved, once-daily, edible prescription medication for the prevention and control of canine periodontal disease. To learn more about Traverse Biosciences visit www.traversebiosciences.com.