BOULDER — Brickell Biotech Inc. (Nasdaq: BBI) has acquired a clinical-stage drug candidate and added a chief medical officer to its stable of C-suite senior executives.
The drug hopeful, BBI-02, would provide oral treatment for autoimmune and inflammatory diseases. Brickell acquired exclusive worldwide rights from Voronoi Inc., a drug-discovery firm based in South Korea.
The drug’s possible advantage is hinted at in pre-clinical data showing an ability to treat autoimmune disorders without increasing infection risk, according to a press release.
“BBI-02 has the ability to target both the adaptive and innate immune imbalance simultaneously, ultimately resulting in the potential restoration of immune homeostasis,” the release said.
Brickell expects to begin Phase 1 studies next year.
Brickell also appointed Dr. Monica Luchi as its Chief Medical Officer, a new position, to oversee clinical development of drugs and medical affairs.
CEO Robert Brown cited Luchi’s experience in new drug creation and “engaging regulators and the medical community at all stages of development.”
Luchi has about 20 years in pharma and biotech, most recently as interim CMO with biopharma drug development consultants the Bracken Group, in Newtown, Pennsylvania. She’s also worked for Novartis and Sorrento Pharmaceuticals, among others. Her academic background is in rheumatology and immunology.
Brickell develops treatments for dermatologic and autoimmune diseases. It’s prepping a Phase 3 data drop on its Sofpironium bromide gel, aimed at reducing sweating. It reported second-quarter results in August.
Shares closed Tuesday at 74 cents per share, up 5 cents per share.