Malvern-based Uniquity Bio is emerging from stealth mode after getting up to $300 million from Massachusetts-based private equity firm Blackstone Life Sciences, writes John George for the Philadelphia Business Journal.
The biopharmaceutical company that is developing treatments for inflammation and immunology disorders already has its new drug candidate heading into phase 2 clinical testing in June as a potential treatment for COPD (chronic obstructive pulmonary disorder) and asthma.
Both conditions represent potential multibillion-dollar markets. COPD affects almost 12 million people in the country and 260 million people worldwide. It is also the third leading cause of death across the world.
According to Fortune Business Insights, the global immunology market is expected to grow significantly, increasing from $98 billion last year to $257 billion in 2032.
“We believe solrikitug has the potential to be a life-changing medication for a significant number of patients who currently have very limited treatment options,” said Uniquity CEO Brian Lortie.
Lortie previously served as CEO of Onspira Therapeutics as well as an executive at two additional larger pharmaceutical companies. His previous experience also includes serving as president of the pharmaceutical business at Endo Pharmaceuticals in Malvern.
Read more about Uniquity Bio receiving funds from Blackstone Life Sciences in the Philadelphia Business Journal.
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