Biotech Startup Licenses CSUF Research
By VITA REED
A venture capital-backed Costa Mesa company has signed a licensing deal for research done at California State University, Fullerton, with hopes it could lead to a new class of antibiotics.
Pyro Pharmaceuticals Inc., a venture play of BSKB Medical Ventures LLC, also of Costa Mesa, said it has obtained rights to studies done by Christopher Meyer, an associate professor of chemistry and biochemistry at Cal State Fullerton.
Meyer’s work focused on increasing starch production in plants. The licensing deal was completed earlier this month.
Pyro is looking to create a new class of antibiotics that act as a bullet by targeting part of a bacterial infection, according to Chief Executive Alan Schechter.
The company closed its first round of funding in November. Schechter also is managing director of BSKB Medical Ventures, which took part in the first round along with wealthy individual investors, whom Schechter declined to name. Nor would he say how much Pyro received.
Pyro’s funding is being used to set up three antibiotic-related research projects at Cal State Fullerton, the University of California, Irvine and New York University.
“We’re definitely going to stay with it,” Schecter said. “We’re hoping to attract another round of investors.”
Pyro expects to receive patents for some of Meyer’s work, said Leonard Svensson, the company’s patent lawyer and a partner at Birch Stewart Kolasch & Birch LLP in Costa Mesa.
BSKB Medical Ventures, a consulting and venture capital firm, is an affiliate of the law firm.
So far, Schechter is Pyro’s only employee: “We’re building a lean, mean fighting machine,” he said.
Ultimately, BSKB intends to sell Pyro or its products to a larger pharmaceutical company, he said.
“Unless there is some compelling reason to undertake human clinical trials, I think it would be simpler and easier (to find) a large partner,” he said. “There’s no reason to build a Taj Mahal with tons of employees.”
Schecter said his goal is to have Pyro undergo animal trials within about three years.
