Hygeia Therapeutics has added to its portfolio of topical hormonal modulators with the acquisition of a series of potent topical anti-androgens. The compounds are expected to be devoid of systemic activity and will be developed for skin and hair disorders associated with increased sensitivity to androgens.
Holden, MA (PRWEB) July 20, 2009 -- Hygeia Therapeutics Inc. (the "Company" or "Hygeia") today announced that it has enhanced its pipeline with the acquisition of a series of potent topical anti-androgens. The lead compound, HYG-440, is expected to lack systemic effects. The addition of the series of anti-androgens covering four different structural classes, adds to the Company portfolio of topically acting hormone receptor modulators. HYG-440 will undergo preclinical development for the treatment of androgen-dependent dermatological disorders such as acne, hirsutism and androgenic alopecia.
The anti-androgens were licensed from Yale University following approval of the transaction by Hygeia stockholders earlier this week. The asset acquisition, announced on July 16, 2009, is an important element of Hygeia's strategy for creating shareholder value. Hygeia shareholders will gain access to an important pipeline asset. Terms of the acquisition were not disclosed.
"We are excited about Hygeia's future, and are encouraged by the positive reaction we have received to this transaction from our investors, scientific advisory board and thought leaders in dermatology and women's health", said Yael Schwartz, Ph.D., President and Chief Executive Officer of Hygeia. "This acquisition combines decades of scientific experience, drug research, and success in discovering numerous promising topical drug candidates. It provides us with access to potentially lucrative corporate partnerships interested in safe and efficacious topical hormone modulators in the
Copyright©2009 Vocus, Inc.
All rights reserved