Perth firm buys Botanix
March 24, 2016
WESTERN Australian listed
pharmaceutical company Bone
Medical has announced the
acquisition of US-based Botanix
Pharmaceuticals, which develops
new prescription products to treat
a range of skin diseases.
Botanix has licensed a novel drug
delivery technology known as
‘Permetrex’ which aims to deliver
pharmaceuticals through the skin
more effectively than alternative
approaches currently on the
market.
The Botanix products, which
treat acne, psoriasis and atopic
dermatitis, are based on a synthetic
form of cannabidiol made using a
“proprietary and patent protected”
process.
Once the deal settles Bone
Medical plans to change its name
to Botanix Pharmaceuticals Ltd,
with the company planning to
conduct the first human clinical
studies of its lead product BTX1503
in Australia.
BTX1503 is a topically applied gel
for the treatment of serious acne,
which works via a novel mechanism
including reducing oil production,
inhibiting bacteria and an anti-inflammatory
effect.
Botanix views the TGA’s Clinical
Trial Notification Process as
“significantly more efficient” than
the US FDA’s Investigational New
Drug process, and believes it can
accelerate its overall development
timetable by conducting the trials
in Australia.
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