Sun Sentinel Palm Beach Edition
FAU to license life science company’s tech
Florida Atlantic University will license the technology of a life science company in its entrepreneurial program — a move that could potentially bring millions of dollars in royalties to the university.
Neuro Pharmalogics, a biopharmaceutical company focused on developing and commercializing innovative therapies for patients with rare neurological diseases, will leverage two patents in its research and launch potential treatments for a severe type of migraine and other socalled “orphan” or rare diseases.
The company, which joined FAU’s Tech Runway program in May, was founded by pharmaceu- tical executive David Muth and FAU scientist Ken DawsonScully.
In his studies, Dawson-Scully, who is associate professor of biological sciences at FAU’s Charles E. Schmidt College of Science and chief scientific officer of Neuro Pharmalogics, found that neurological diseases including a hemiplegic migraine — which is so severe that it can affect patients up to 15 times a month and paralyze half the body — can be targeted for treatment.
“This licensing agreement is a testament to Ken DawsonScully’s world-class research here at Florida Atlantic University,” said Daniel Flynn, FAU’s vice president for research.
Muth was a top executive at companies including Catalyst Pharmaceuticals in Coral Gables; Croma Pharmaceuticals, which had its U.S. operations in Fort Lauderdale before it was sold; Nabi Biopharmaceuticals, once based in Boca Raton; and the global health companies Bausch & Lomb and Johnson & Johnson. After a career in the pharmaceutical industry, Muth moved to Boca Raton and became an adjunct professor at FAU.
Rhys Williams, president of FAU Tech Runway, said Muth has focused the business as an “orphan drug” company, which is what was needed to take Neuro Pharmalogics forward from the research phase.
“Academic researchers have a great understanding of biology and the molecule they plan to develop, but they don’t know strategy — the best regulatory approach and ways you need to position the company in order to have success and raise capital,” Williams said.
Muth said his strategy to focus Neuro Pharmalogics as an orphan drug company brings advantages as the company seeks the Food and Drug Administration’s approval for any treatments. “One of the incentives is you’re given seven years market exclusivity,” he said.
Still, an initial product launch and revenues are a long way off. Muth said if all phases go “perfectly,” that process should take six to seven years. But success could eventually result in “millions of dollars” in royalties to the university, he said.
Most importantly, Muth said, the company hopes to prevent symptoms experienced by severe migraine victims. “We think we’ll be able to intervene in this very debilitating condition, so patients don’t have to go through the pain and paralysis,” he said.
The company operates out of FAU Tech Runway’s headquarters on the Boca Raton campus. Muth said following preclinical research and initial product development, the company plans to seek FDA approval to pursue human clinical studies in sites around the country.
He has recruited as board members and consultants two former Johnson & Johnson executives experienced in preclinical work and clinical trials: Ben Thornton and Dr. Mike Corrado, who also has worked for Merck.
Neuro Pharmalogics also is one of 13 finalists in BioFlorida’s BioPitch competition, scheduled for Dec. 13 in Jacksonville. The companies, which are seeking early-stage investment, will make presentations before investors and other judges at the annual conference.
Since FAU Tech Runway’s inception in late 2014, the program’s companies have generated more than $8.3 million in revenue and more than 200 jobs, Williams said. The program provides collaborative work space for entrepreneurs to educate, mentor and fund their companies from inception through venture funding.