NESS-ZIONA, Israel, Jan. 14, 2019 /PRNewswire-PRWeb/ -- FutuRx, a biopharmaceutical incubator established through a collaboration between OrbiMed Israel Partners, Johnson & Johnson Innovation - JJDC, and Takeda Ventures, Inc, announced today the launch of a new portfolio company - GliXogen Therapeutics.
The company is founded based on proprietary technology developed by James L. Salzer, MD, PhD, Professor in the Departments of Neuroscience and Physiology and Neurology at NYU School of Medicine, and NYU Langone Health's drug discovery accelerator, the Office of Therapeutics Alliances (OTA). GliXogen Therapeutics will be the 17th portfolio company incepted by FutuRx since its formation in 2014.
GliXogen Therapeutics develops novel therapies to reverse the course of demyelination disorders such as multiple sclerosis. Its lead candidate is an inhibitor of Gli1, a Sonic Hedgehog pathway protein which has been demonstrated to play a key role in remyelination. Gli1 inhibition drives neural stem cell migration to demyelinating lesions, and their differentiation into oligodendrocyte progenitor cells and myelin-producing oligodendrocytes. GliXogen Therapeutics will focus on research and development activities needed to bring drug candidates to human clinical testing.
"Dr. Salzer's research provides FutuRx and GliXogen Therapeutics with the opportunity to develop first-in-class drug candidates that will offer a novel treatment approach of multiple sclerosis," said Kinneret Savitzky, PhD, Chief Executive Officer of FutuRx. "We are excited to join forces with NYU Langone Health and the OTA on this program, applying FutuRx's proven platform for accelerated early-stage innovative drug development to advance this pioneering research into clinical candidates."
"We are delighted to partner with FutuRx to launch GliXogen Therapeutics, which will focus on myelin repair - an urgent clinical need in multiple sclerosis and other neurological disorders for which there are currently no approved therapies," said James L. Salzer, MD, PhD. "The resources and expertise at GliXogen provide an exciting opportunity to advance recent insights into the biology of stem cells and myelin repair towards novel clinical therapeutics".
"Dr. Salzer's innovative research studies at NYU Langone Health have illuminated neural stem cell biology and their role in myelin repair mechanisms. We are thrilled about this partnership with GliXogen Therapeutics and its potential to develop novel therapeutics for demyelinating diseases such as multiple sclerosis." said Nadim Shohdy, PhD, Assistant Dean and Director of the OTA at NYU.
For more information about FutuRx, please visit http://www.futurx.co.il
For more information about the NYU Office of Therapeutics Alliances, please visit http://www.nyulmc.org/ota
FutuRx is the Israeli biotechnology incubator that was established in 2014 by Johnson & Johnson Innovation - JJDC, OrbiMed Israel Partners, and Takeda Pharmaceutical Company, through its venture group Takeda Ventures Inc., after winning the tender of the Israel Innovation Authority (IIA). The incubator is focused on innovative, early stage therapeutic technologies, and has established 17 companies to date.
About NYU Office of Therapeutics Alliances and NYU Office of Industrial Liaison
The NYU Office of Therapeutics Alliances (OTA) was created in 2013 to accelerate and de-risk drug discovery projects developed at NYU School of Medicine. The NYU Office of Industrial Liaison (OIL) promotes the commercial development of NYU discoveries and actively seeks commercial partners for licensing and research collaborations. Over the past ten years NYU has ranked first among all universities in income from technology licensing. For more information, please visit http://www.nyulmc.org/ota and http://oil.med.nyu.edu/.
This press release contains statements that are or may be forward-looking statements, including statements that relate to the company's future prospects, developments and strategies. The forward-looking statements are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from current expectations. These forward-looking statements are based on assumptions regarding the present and future business strategies of the company and the environment in which it will operate in the future.