For those of you who are interested in the shenanigans of the Pharma industry, Forward Pharma have put out a press release that they are raising money to develop their version of dimethyl fumarate for MS and psoriasis. We assume Biogen-Idec will contest this. Forward Pharma's action are likely to result in a length and expensive legal battle, unless Forward Pharma simply want a big payout.
FP187 – Oral Immunomodulatory Dimethyl Fumarate (DMF)
Forward Pharma is focused on advancing its lead drug candidate FP187. The compound is based on the small molecule dimethylfumarate (DMF) in a patented controlled release erosion matrix tablet with enteric coating. FP187 is being developed for possible treatment of immune disorders including multiple sclerosis and psoriasis. Forward Pharma expects to approach other immune disorders exploiting the immunmodulatory properties of the compound in immunology.
DMF is thought to interact with T cells and dendritic cells in the gut and pre-systemic circulation inducing an anti-inflammatory cellular and cytokine profile. It is also thought that DMF has direct cytoprotective effects. Importantly, DMF does not appear to induce significant immunosuppression at clinical doses1,2.
The development of FP187 benefits from the unique situation of a long term track record of DMF in Germany, where a DMF formulation combined with three salts of monoethylfumarate was approved for psoriasis in 1994 (Fumaderm)3, and has gained first-line status and endorsement in German and international guidelines since then4,5,6. FP187 development is based on evidence that DMF is the most essential component in this formulation. With FP187 Forward Pharma aims to provide a more tolerable, more convenient, long-term effective oral therapy for patients with immune disorders.
FP187 has demonstrated promising controlled release characteristics and tolerability in Phase I testing in healthy volunteers. More recently, FP187 has successfully completed a large randomized, double-blind, placebo-controlled registration study in patients with moderate to severe psoriasis (http://clinicaltrials.gov/ct2/show/NCT01230138, EudraCT No.: 2010-020168-39).
Forward Pharma Files Registration Statement for Initial Public Offering
Copenhagen, Denmark – August 11, 2014 – Forward Pharma A/S, a biopharmaceutical company focused on a proprietary formulation of dimethyl fumarate for the treatment of multiple sclerosis, today announced that it has filed a registration statement on Form F-1 with the United States Securities and Exchange Commission relating to a proposed initial public offering of its ordinary shares. The number of shares to be offered and the price range for the offering have not yet been determined. Forward Pharma intends to list its ordinary shares on the NASDAQ under the ticker symbol “FWP.”
The offering will be made only by means of a prospectus.
A registration statement relating to Forward Pharma’s securities has been filed with the United States Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.