Nemus Bioscience Inc. continues to make strides with marijuana-based products, with its latest licensing deal promising higher quality cannabinoids with quicker production cycles.
The Costa Mesa-based biopharmaceutical company, which develops cannabinoid-based drugs for diseases, signed a licensing agreement for Tampa, Fla.-based Teewinot Life Sciences’ biosynthetic technology, which is used to produce cannabinoid molecules.
“Biosynthesis involves the insertion of genetic material from the cannabis plant into yeast,” said Nemus Chief Executive Brian Murphy. “Yeast fermentation results in the production of highly purified cannabinoids in a manner more cost-effective than chemical synthesis or deriving the molecules directly from the plant. Additionally the turnaround time to manufacture a kilogram of material is days versus weeks for chemical synthesis or months for using botanical sources.”
Murphy said it is important to manufacture the drug synthetically for cost and purity because the U.S. Food & Drug Administration “will not approve plant-derived cannabis [drugs].”
The cannabis plant, also known as marijuana, contains over 500 natural compounds, of which more than 70 have been classified as cannabinoids. Cannabinoids are responsible for marijuana’s common effects on a person—the reason users get high.
Nemus focuses on re-engineering two cannabinoid molecules: tetrahydrocannabinol (THC) and cannabidiol (CBD), to achieve better safety and efficacy.
Nemus is listed on the OTC market, with a market cap of roughly $8.4 million. There are larger competitors in the market, including GW Pharmaceuticals in Salisbury, United Kingdom, and Insys Therapeutics in Phoenix, Ariz.
Murphy said the company is unique because it is not limited in the ways it can deliver cannabis-based drugs.
“Both [GW and Insys] administer their drugs orally,” Murphy said. “But orally is not always the most efficacious way to deliver the drug.”
Nemus also is developing a cannabinoid-based topical drop treatment for glaucoma.
Chinese Dollars
Lombard Medical Inc. received $15 million from MicroPort Scientific Corp., a global manufacturer and marketer of medical devices in Shanghai, as part of a larger strategic partnership agreement that includes a licensing deal.
U.K.-based Lombard makes medical devices—Arofix and Altura stent grafts for treating abdominal aortic aneurysms.
The company, which recently announced its decision to stop marketing to the U.S. market following a loss of $8.3 million on revenue of $3.8 million in the second quarter, ceased its Irvine-based U.S. operations in the fourth quarter.
MicroPort will have exclusive marketing rights for the Aorfix and Altura stent graft product lines in China and Brazil, as well as a license to manufacture the products for the Chinese market. MicroPort also will manufacture certain components for the stent graft products in its facilities in Shanghai.
MicroPort’s $15 million investment came through a $5 million purchase of common stock at 62 cents per share, representing about a 30% ownership stake, as well as a 5-year, $10 million convertible debt. Loombard’s market cap is about $12 million.
Breast Surgery
Newport Beach-based Hoag Memorial Hospital Presbyterian named Dr. Nirav Savalia director of oncoplastic and aesthetic breast surgery.
Oncoplastic surgery removes tumors while allowing women to preserve their breasts, avoiding “unnecessary mastectomies.” Â
“The fear of deformity of the breast… [drives] surgeons and medical oncologists to default to mastectomy with total breast reconstruction as the only viable solution for the patient to have a reasonable aesthetic outcome,” said Savalia.
He is a clinical assistant professor of surgery at Keck School of Medicine of USC, and previously owned a plastic surgery practice.
Savalia will lead the development of a comprehensive breast reconstruction program at Hoag that includes developing a reconstruction database to track and study outcomes.
Bits & Pieces
The U.S. Department of Health Services and Smart Care California recognized Laguna Hills-based Saddleback Memorial Care Medical Center and its Women’s Hospital with an award for reaching the Healthy People 2020 goals of lowering the rate of cesarean deliveries, or C-sections, among low-risk women. … St. Joseph Hoag Health joined the California Integrated Data Exchange to share patient health information data among physicians. The exchange currently holds more than 9 million health information records; St. Joseph Hoag Health will add over a million. … Orange-based Alignment Healthcare, a patient healthcare data management service provider, promoted Katherine Feeny to president.
