PITTSBORO – Propella Therapeutics, a development-stage venture focused on accelerated approvals of therapeutics with what it calls “mitigated risk,” now calls Pittsboro home.
The company emerged as one of two firms created by the reorganization of Virginia-based Vizuri Health Sciences.
The other firm is Vizuri Health Sciences Consumer Healthcare. It remains based in Virginia.
Vizuri made the moves recently in a strategy it says is “designed to strengthen the capacity of both companies to quickly bring new products to market and increase shareholder value.”
Propella, which is privately held, will focus on “best-in-class prescription products,” the company says. It’s led by CEO William Moore, who previously served as CEO of Vizuri Health Sciences.
“Propella will continue our successful strategy of identifying promising off-patent medications that we can improve and rapidly develop to provide novel treatments that are safer and more effective,” said Moore in the announcement. “Our risk-mitigated strategy allows us to rapidly advance high-value therapies while greatly reducing development costs.”
Moore previously held executive positions at Arris, Axys, Locus Pharmaceuticals, and Innocrin Pharmaceuticals.
The company says it has three products under development:
- CGS-200-5, a novel, non-opioid solution for managing osteoarthritis pain
- PRL-02 for metastatic prostate cancer
- PRL-01 for herpes virus infections
CGS-200-5 is protected by several patents and is set for a Phase 3 clinical trial, Propella notes.
Original Article Source: WRAL TechWire