Ember and Mariel Therapeutics Enter Definitive Merger Agreement Creating a Strong Diversified Company
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- Published on Thursday, 12 March 2015 17:12
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NEW YORK, NY and BOSTON, MA, USA I March 12, 2015 I Ember Therapeutics, Inc., a Boston-based biotechnology company dedicated to the discovery and development of novel obesity and diabetic related therapies, and Mariel Therapeutics, a privately held, New York-based biotechnology company developing targeted therapies for osteoarthritis and kidney fibrosis using Bone Morphogenetic Protein (BMP)-7, jointly announce today that they have entered into a definitive agreement to merge the two companies.
The combined entity, to be named Ember Therapeutics, Inc., is expected to create a leader in innovative drug discovery and development in osteoarthritis, kidney fibrosis and diabetic related diseases including obesity. The combined company's clinical pipeline will include four drugs in development – one of which has completed Phase II clinical trials in osteoarthritis and three of which are near to entering Phase I.
Financial details of the transaction were not disclosed.
"This transaction further enhances the clinical utility and efficacy of BMP-7 in diverse applications and gives us access to novel delivery technologies for BMP-7," said Joseph Hernandez, Chairman of Mariel Therapeutics. "The combined pipeline and intellectual property are expected to have a profound impact in areas of unmet medical needs."
About Mariel Therapeutics, Inc.
Mariel Therapeutics, Inc. (Mariel) is a clinical stage biopharmaceutical company focused on the clinical application of Bone Morphogenetic Protein-7 (BMP-7) in osteoarthritis (OA), chronic kidney disease (CKD), and Alport's Syndrome. Mariel acquired the rights to over 450 issued and pending patents as well as BMP-7-related clinical and research data, and the associated biologic materials from Stryker Corporation.
Human recombinant BMP-7 has previously been used in reconstructive bone applications in over 40,000 patients. Previous Phase I and Phase IIa trials have been completed in osteoarthritis. Mariel intends to advance clinical trial in osteoarthritis (OA) and for chronic kidney disease (CKD) and Alport's disease, a genetic kidney fibrosis disease. For more info, please visit www.marieltherapeutics.com
About Ember Therapeutics
Ember Therapeutics is a product-focused company harnessing breakthroughs in brown fat biology and insulin sensitization to revolutionize the treatment of metabolic disease. Today's rising epidemic of obesity and Type 2 diabetes coupled with the lack of innovation in the industry's metabolic disorder treatment pipeline underscores the need for novel, peripherally-acting treatments with improved safety profiles. Ember's unique approach leverages recent research breakthroughs in brown fat biology to develop a pipeline of proprietary molecules, including BMP-7, designed to amplify the body's innate ability to efficiently burn fuels like glucose. Ember Therapeutics is a private company launched in 2011 by renowned scientific founders, and an experienced leadership team.
SOURCE: Ember Therapeutics