Retrophin has taken several steps toward development of intranasal oxytocin for the treatment of schizophrenia and autism, the company has announced. The biopharmaceutical company says that it will acquire Kyalin Biosciences and its lead product, intranasal carbetocin, a synthetic analog of oxytocin, and it has acquired a US license for Novartis’s Syntocinon intranasal synthetic oxytocin.
The company paid $5 million plus milestone payments and royalties to license Syntocinon, which was originally approved by the FDA in 1960 for facilitation of post-partum milk ejection and was discontinued in 1997. Retrophin says that it will reintroduce the product in the second quarter of 2014 for its original indication and will begin a clinical program for the nasal spray for the treatment of autism and schizophrenia.
Retrophin Founder and CEO Martin Shkreli commented, “We believe the reintroduction of intranasal Syntocinon for lactation deficiency would be a welcome option for obstetricians and their patients, while providing Retrophin with a revenue stream. Equally important, we believe that Syntocinon is an underutilized drug. Compelling data from studies that show positive results in patients with schizophrenia and autism lead us to believe that this drug may have significant utility in treating these conditions. We look forward to initiating a clinical program in order to develop the drug for these indications.”
Kyalin Biosciences Founder and President Srinivas Rao will become Executive VP, Head of Neuroscience for Retrophin. Shkreli said that Retrophin “look forward to leveraging Dr. Rao’s extensive work and expertise, particularly in the area of autism, as we seek to bring new treatment options to this catastrophic condition. Kyalin’s development of carbetocin for the treatment of autism and related conditions is a seamless fit with our strategy, which was outlined in this morning’s announcement of our US licensing agreement with Novartis for intranasal Syntocinon, and our planned clinical trial program for potential use of the drug as a treatment for schizophrenia and autism.”
Read the Retrophin press release on the acquisition of Kyalin.
Read the Retrophin press release on the licensing of Syntocinon.
