EDMONTON, Alberta – January 16, 2017 – Fedora Pharmaceuticals, Inc. announced they have received nonrefundable financial contribution from the National Research Council of Canada’s Industrial Research Assistance Program (NRC-IRAP). In addition to technical and business advisory services provided by NRC-IRAP, the funding is being used to develop a pipeline of antimicrobial product candidates. The company is currently conducting studies on a family of antimicrobial compounds with the goal of selecting one or more candidates from this family to advance into preclinical studies in 2017.
“Our aim at Fedora is to apply our scientific acumen to the challenge of antimicrobial resistance (AMR),” stated Christopher G. Micetich, founder and chief executive officer of Fedora Pharmaceuticals. “Our first effort focused on the development of a family of beta-lactamase inhibitors that showed promise against all four classes of betalactamases and was licensed by Roche in 2015 for further development. Building on that success, we have begun development of a pipeline of antimicrobial candidates to address the incredible need that still exists in the treatment of drug-resistant bacterial and fungal infections.”
Mr. Micetich continued, “Our efforts align closely with the goals of the Government of Canada which are committed to addressing AMR through surveillance, stewardship, prevention and innovation. We are dedicated to working with government organization as well as partners in the pharmaceutical industry to develop new products to treat AMR infections.”
About Fedora Pharmaceuticals
Fedora Pharmaceuticals is developing a pipeline of antimicrobial drug candidates designed to have activity against multi-drug resistant pathogens. Fedora previously developed a family of beta-lactamase inhibitors that was licensed by Roche in January 2015 from Meiji Seika Pharma and Fedora Pharmaceuticals. Under the terms of the agreement, Meiji and Fedora will receive upfront plus development, regulatory and sales event milestone payments totaling potentially up to $750 million. In addition, Meiji and Fedora are entitled to receive tiered royalties on sales of products originating from this collaboration.
Fedora was founded in 2012 and is headquartered in Edmonton, Alberta, Canada. In 2015, the company received the Alberta Life Sciences’ "Company of the Year" award and the Alberta Science and Technology Leadership (ASTech) Foundation’s award for Outstanding Commercial Achievement.
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