BALLERUP, Denmark--(BUSINESS WIRE)--LEO Pharma today announced that it has finalized the acquisition of the strategic asset TMB-001 as well as certain other assets from Timber Pharmaceuticals following its chapter 11 bankruptcy filing.
The TMB-001 project aims to develop a topical treatment for multiple moderate to severe subtypes of congenital ichthyosis - a skin disease with significant unmet need and no approved prescription therapies available. The TMB-001 project continues as planned and without changes within LEO Pharma. All employees of Timber Pharmaceuticals will transition to LEO Pharma's offices in New Jersey, US.
TMB-001 is an investigational topical reformulation of the active pharmaceutical ingredient (API), isotretinoin that today only exists in an oral formulation in the U.S. The reformulation has received orphan, fast track, and breakthrough designation by the FDA. TMB-001 has shown positive results in Phase 2, with Phase 3 recruitment currently on-going in the US and in Europe.
Christophe Bourdon, CEO of LEO Pharma, commented:
"We are excited to kick-off 2024 by adding TMB-001 to our pipeline and to welcome the employees of Timber Pharmaceuticals to LEO Pharma. The transaction will further strengthen our pipeline with a strategic Phase 3 asset that has the potential to be able to help people living with a debilitating disease for which there are currently no proper treatment options."
LEO Pharma expects the acquisition to strengthen its US business. The transaction will not have a material financial impact on LEO Pharma's financial results for 2024.
About LEO Pharma
LEO Pharma is a global company dedicated to advancing the standard of care for the benefit of people with skin conditions, their families and society. Founded in 1908 and majority owned by the LEO Foundation, LEO Pharma has devoted decades of research and development to advance the science of dermatology, and today, the company offers a wide range of therapies for all disease severities. LEO Pharma is headquartered in Denmark with a global team of 4,400 people, serving millions of patients across the world. In 2022, the company generated net sales of DKK 10.6 billion.
For further information, visit:
www.leo-pharma.com
Contacts
Henrik Heskjær
+45 3140 6180
hdtdk@leo-pharma.com
