FreeOx Biotech lead asset recommended by NIH/NINDS SPAN network for further development. FreeOx Biotech Adds Leadership for Advancing Ox-01 to Phase III and Commercialization
BARCELONA, Spain, Nov. 16, 2023 /PRNewswire-PRWeb/ — FreeOx Biotech SL, a late-stage clinical biopharmaceutical company pioneering the development of a novel drug class for Acute Ischemic Stroke (AIS), announced today that the National Institutes of Health, NINDS’ SPAN (Stroke Preclinical Assessment Network), endorsed Uric Acid (the active ingredient of Ox-01, the company’s Phase III-ready investigational drug) as the only one of five interventional drug candidates for which data supported further clinical evaluation. As reported in SCIENCE TRANSLATIONAL MEDICINE, FreeOx’s lead asset – was shown to be an effective emergency adjunct therapy to Mechanical Thrombectomy (MT) for the treatment of AIS, demonstrating unprecedented efficacy compared to five other candidate interventions. As such, the NINDS also indicated potential interest in funding Ox-01’s Phase III trial. The company has strong intellectual property covering Uric Acid and its use in stroke treatment.
“The NINDS’ endorsement underscores their confidence in the efficacy and potential of Ox-01 as a ground-breaking therapy for acute ischemic stroke. On top of our compelling Phase II data, the Phase III trial, once successfully completed, will pave the way for the marketing authorization of Ox-01 in the U.S. and EU, as an adjunct therapy to mechanical thrombectomy. We are confident that once approved, Ox-01 will significantly reduce disability in AIS patients,” noted Emmett-Phil Coriat, FreeOx Chairman and Chief Executive Officer.
FreeOx also announced today the addition of key personnel to the company’s leadership and advisory teams, including a new Chairman of the Board and Chief Executive Officer; a newly appointed Board Director; and a Strategic Development Advisory Board to lead the company through its upcoming pivotal Phase III clinical program and subsequent commercial registration and marketing activities. Carlos Lurigados, FreeOx’s co-founder and former CEO, has assumed both the Chief Operating and Chief Financial Officer roles.
New Chairman of the Board and Chief Executive Officer: Emmett-Phil Coriat
“FreeOx is uniquely positioned to lead the field of cerebroprotective therapies. Its lead asset has been observed to reperfuse brain vasculature during a stroke as well as to protect the penumbra. The company’s founders pioneered the strategy of administering Uric Acid to restore microcirculation to oxygen-deprived brain cells and were recently recognized by the U.S. National Institutes of Health SPAN program for their breakthrough work. I believe FreeOx will be the first commercial adjunct therapy to address the significant unmet needs and raise the standard of care in stroke. As both Chairman of the Board and CEO, I look forward to the opportunity to collaborate with the company’s leadership and advisors to advance this work first in stroke and later, to even broader neurological indications,” said Emmett-Phil Coriat, newly appointed FreeOx Board Chair and CEO.
Emmett brings to FreeOx more than 25 years of experience in biotech/medtech as a venture capitalist, founder, and CEO of startups, with a successful track record in dealmaking and exits. He has held diverse roles and advisory positions in Canada, the U.S., Israel, and the U.K. As a partner, he led the creation of the Biotech/Medtech transactional advisory practice and co-founded the Boston office for AEC Partners, a strategy and transactional advisory boutique in life sciences. Emmett was previously a partner at T2C2 Capital, a VC fund behind companies such as Enobia Pharma. His accomplishments include successfully innovating with endogenous products, including an asset sale to Eli Lilly in 2015. Emmett holds an MBA from the London Business School (UK), a Pharmacy degree from University of Montreal and a diploma in Intellectual Property Management from McGill University. Emmett is also certified as a Forest Therapy guide, and co-founded PaRx Canada, which has grown to become one of the world’s largest physician-prescribed ecotherapy programs. He began his career at L’Oréal and holds dual Canadian-Spanish citizenship.
New Board Member: Laurent van Lerberghe
Laurent van Lerberghe brings to the FreeOx Board of Directors a wealth of experience, spanning over 25 years in operational and strategic leadership across pharma businesses. He has a strong track record of leading and developing businesses globally. Over the last three years, he served as Chief Strategy Officer at Sanofi, working closely with the CEO and contributing significantly to the company’s growth as one of the architects of multiple strategic acquisitions. He also expedited funding in oncology, genomic medicines, and digital health. Before Sanofi, Laurent held various high-level commercial positions at Abbott for a decade in the US, Europe, and Asia. Laurent’s strategic insights and track record bringing science to patients will play an important role as we continue to develop and partner Ox-01. Laurent is now an entrepreneur investor, focusing on accelerating digital health across Europe, with neurology being one key area.
“FreeOx is well positioned for success, not only in Phase III but also in the field of cerebroprotective therapy where there has been almost no innovation since the approval of Mechanical Thrombectomy. Despite the fact that MT has improved outcomes for stroke patients, there are a significant number of stroke survivors left unable to live independently post-stroke. As such, they ravage healthcare resources, not to mention present often insurmountable challenges to patients and families alike. It is this gap that I believe FreeOx will address with an emergency adjunct AIS treatment that restores brain microcirculation, and thereby raises standard of care worldwide,” added van Lerberghe.
New Development & Strategic Advisory Board (DSAB)
Coriat said that FreeOx has created a new Development and Strategic Advisory Board to support management’s planning for its pivotal trial, Ox-01’s registration, commercialization and market access. He also expects the DSAB to assist in identifying future pipeline opportunities based on FreeOx’s proprietary liposomal formulation platform, including UA and other neurology indications. Appointed to Chair the DSAB is Joan Bigorra, MD, former General Manager of Novartis Pharma Spain. Dr. Bigorra sat on Novartis Pharma’s International Innovation Board and set up programs focused on Market Access Strategy and Structure. Prior to Novartis. he was Medical Director, and Head of R&D for Bayer Healthcare and Boehringer Ingelheim. Angel Chamorro, M.D, FreeOx co-founder and senior scientific advisor will co-chair the DSAB while Tudor G. Jovin, the company’s co-founder and senior medical advisor has agreed to be its first independent member. Tudor is an esteemed expert specializing in both interventional and non-interventional treatments for stroke and cerebrovascular disorders, with over 300 influential publications.
For more information about FreeOx Biotech and its groundbreaking stroke treatment technology, please visit the company’s website at https://freeoxbiotech.com/.
About FreeOx Biotech
FreeOx Biotech is a leading late-stage clinical-stage biopharmaceutical company dedicated to developing Cerebrovascular Protective Therapy, a new drug class for the emergency treatment of Acute Ischemic Stroke (AIS) patients. By focusing on restoring microcirculation homeostasis and enhancing penumbra reperfusion, FreeOx Biotech aims to revolutionize stroke care and improve patient outcomes. FreeOx’ s lead product, Ox-01, is Phase III- ready. FreeOx is building a pipeline based on a proprietary liposomal formulation technology that broadly expands opportunities in neurology. Founded by Dr. Ángel Chamorro, a leading stroke neurologist and pioneer in the use of Uric Acid as an emergency treatment for AIS, FreeOx ‘s novel adjunct drug has been shown to reperfuse the brain microcirculation. By contrast, current emergency AIS treatments are effective only in addressing recanalization (macrocirculation restoration).
Media Contact
Emmett-Phil Coriat, FreeOx Biotech, 1 (514)792-1264, [email protected]
Gabriella Perez-Silva, 1 (714) 875-6424, [email protected]
SOURCE FreeOx Biotech
