NEW YORK, NY -- (Marketwired) -- 04/08/13 -- LifeSci Advisors, LLC, a leading provider of investment research and investor relations services in the life sciences sector, today announced that it has initiated coverage of Celsus Therapeutics PLC. (OTCQB: MRRBY), a biopharmaceutical company focused on the rapid development of novel synthetic drugs, termed Multi-Functional Anti-inflammatory Drugs (MFAIDS), to treat inflammatory and allergic conditions. Celsus's leading development candidates are MRX-6, a topical cream for contact dermatitis and MRX-4, a nasal spray for allergic rhinitis.
"A lack of satisfactory alternatives to corticosteroids produces large market opportunities for Celsus," said Andrew I. McDonald, Ph.D., Founding Partner at LifeSci Advisors. "For example, approximately 39 million prescriptions are written annually for topical steroids to treat conditions like psoriasis, eczema and other forms of dermatitis, and the global allergic rhinitis market addressed by MRX-4 has grown to $10 billion."
Celsus's lead product in development, MRX-6, is currently being studied in a multi-center, randomized, vehicle (placebo) and active-controlled, dose ranging Phase II study in 80 moderate to severe contact dermatitis (CD) patients. Results from approximately 30 patients in the highest dose (2%) cohort are expected in early May 2013, with the other arms reading out in H2 2013. This study was based on positive, statistically significant results from a single-center, double-blind, vehicle-controlled study of 11 patients published in 2007. This study showed a 69% reduction in EASI score for the MRX-6 treated hand or forearm compared to 32% for the vehicle treated hand or forearm (p=0.0024). Celsus has tested MRX-4 in a Phase II clinical trial for patients with allergic rhinitis, demonstrating clinical and biomarker activity. Celsus sees this program as a gateway to addressing respiratory inflammation- including asthma and cystic fibrosis.
Celsus is developing a platform of first in class, synthetic, non-steroidal anti-inflammatory drugs known as MFAIDs. They are designed to inhibit extracellular secretory phospholipase A2 (sPLA2), a catalytic enzyme responsible for initiating the inflammatory cascade through the production of arachidonic acid from membrane-associated phospholipids, specifically at the cell surface. MFAIDs can inhibit all sPLA2 isomers without disrupting cytoplasmic phospholipase A2 (cPLA2), a crucial homeostatic enzyme within cells. Celsus is currently using its platform to address unmet medical needs in the areas of dermatology, respiratory, ophthalmology, and gastrointestinal inflammation.
In a 33 page Initiation Report by LifeSci Advisors, we explain Celsus's overall development strategy, including background on MRX-6, MRX-4, and the MFAID technology. The report also details pre-clinical candidates that target ocular inflammation (OPX-1), cystic fibrosis (CFX-1), and inflammatory bowel disease (MRX-5). The report provides a deep look into the scientific rationale behind each of Celsus's clinical programs, competing products and development programs, and examines the patient population and market opportunity for each drug candidate.
Dr. McDonald's full Initiation Report is available to download at no cost at the LifeSci Advisors website, www.lifesciadvisors.com. In addition to this Initiation Report, LifeSci Advisors will also provide ongoing coverage and event-based research updates on the Company as developments occur.
The LifeSci Advisors research team is led by Dr. Andrew I. McDonald, an industry veteran with more than 15 years of healthcare industry experience. Prior to co-founding LSA, Dr. McDonald was the Senior Biotechnology Analyst at Great Point Partners, a leading health care investment firm with over $500 million under management. Before Great Point, he was Co-Head of Healthcare Research and Lead Biotechnology Analyst at ThinkEquity Partners, a boutique investment banking firm focused on growth companies. Dr. McDonald holds a Ph.D. in organic chemistry from the University of California, Irvine, and, earlier in his career, worked as a medicinal chemist at both Pfizer and Cytokinetics.
About LifeSci Advisors:
LifeSci Advisors (LSA) is a leading research firm and communications consultancy dedicated to the life sciences industry. The firm provides strategic counsel, customized marketing communications, comprehensive research reports and investor relations services to companies that specialize in the discovery, development and commercialization of drugs, drug delivery systems, medical devices and diagnostics. To learn more about LSA, visit the company's website, www.lifesciadvisors.com.
The research report described in this press release is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell securities. The securities discussed in LSA research reports may be unsuitable for some investors depending on their specific investment objectives, financial status, risk profile, or particular needs. Investors should consider LSA reports as only a single factor in making their investment decisions and should not rely solely on these reports in evaluating whether or not to buy or sell the securities of the subject company. LifeSci Advisors has been compensated by the company that is the subject of the report described and future research reports, investor relations services, and general consulting services. Please read each report's full disclosures and analyst background on the LSA website, www.lifesciadvisors.com, before investing. LifeSci Advisors is not a registered investment adviser or broker-dealer.
This press release contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those projected. These forward-looking statements represent LSA's judgment as of the date of this release. LifeSci Advisors disclaims, however, any intent or obligation to update these forward-looking statements.
Phone: (646) 597-6979
Celsus Therapeutics Contact:
Gur Roshwalb, MD
Chief Executive Officer
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