Sienna Biopharmaceuticals Acquires Creabilis plc
Acquisition Adds Phase IIb Product, Clinical Candidates and Novel Discovery Platform to Sienna's Growing Pipeline
WESTLAKE VILLAGE, Calif., Dec. 6, 2016 /PRNewswire/ -- Sienna Biopharmaceuticals, Inc., a privately held, clinical-stage medical dermatology and aesthetics company, today announced it has acquired Creabilis plc, a privately held specialty pharmaceutical company focused on developing first-in-class topical treatments for common inflammatory skin conditions, including psoriasis, atopic dermatitis and pruritus (itch). Under the terms of the agreement, Sienna will make an undisclosed upfront payment in cash and stock, as well as additional payments contingent upon achieving specific regulatory and commercial milestones, which could exceed $150 million in aggregate. Additional terms were not disclosed.
Sienna has acquired first-in-class late-stage and patented clinical candidates, including:
A Phase IIb topical tropomyosin receptor kinase A (TrkA) inhibitor (SNA-120, formerly CT327) for the treatment of pruritus and psoriasis.1
A topical TrkA/janus kinase 3 (JAK3) inhibitor (SNA-125, formerly CT340) for the treatment of inflammatory skin conditions, including atopic dermatitis, psoriasis and pruritus.
These new drug candidates were generated through a proprietary "Topical by Design" platform technology developed by Creabilis that provides localized efficacy and limited systemic exposure. Sienna also acquired a portfolio of pre-clinical drug candidates generated by this technology.
The acquisition bolsters Sienna's medical dermatology and aesthetics pipeline, which, in addition to several proprietary pre-clinical programs, includes a novel topical photoparticle therapy (SNA-001) in pivotal studies for the localized, non-systemic treatment of acne vulgaris and the permanent reduction of unwanted light-pigmented hair.
"The acquisition of Creabilis is transformative, expanding Sienna's innovative and diversified pipeline," said Sienna President and Chief Executive Officer Frederick C. Beddingfield III, M.D., Ph.D., who formerly developed leading dermatology and aesthetics brands such as BOTOX® Cosmetic, JUVÉDERM®, LATISSE®, KYBELLA®, ACZONE® and TAZORAC®. "Both the TrkA and TrkA/JAK3 programs offer the potential of highly differentiated topical treatments for inflammatory skin diseases and pruritus. Furthermore, the addition of the groundbreaking "Topical by Design" technology will allow Sienna to discover and develop innovative new drug candidates for areas of high unmet need in dermatology."
Psoriasis is a common chronic inflammatory skin disease observed in about one to three percent of the general population. About 60 to 90 percent of patients with psoriasis suffer from pruritus (itch), one of the most distressing symptoms associated with the disease. Pruritus is also a common symptom in other inflammatory skin diseases, including atopic dermatitis. Currently there are no topical treatments approved by the U.S. Food and Drug Administration (FDA) specifically for pruritus.
Creabilis Chief Executive Officer Alex Leech said, "We have great confidence in the Creabilis platform and have been focused on ensuring these high-value assets progress through the clinic as expeditiously as possible. The management team at Sienna has a long and proven track record of successfully bringing innovative dermatology treatments to market, and we, together with our shareholders, believe that the portfolio is poised for success as part of Sienna's medical dermatology pipeline."