Ligand Partner Seelos Therapeutics Becomes a Public Company

Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) partner Seelos Therapeutics, Inc. (NASDAQ: SEEL) announced that it has closed a reverse merger with Apricus Biosciences Inc. The combined company changed its name to Seelos Therapeutics, Inc., is publicly traded on the Nasdaq Capital Market under the trading symbol “SEEL,” and will focus on the development and commercialization of central nervous system (CNS) therapeutics with known mechanisms of action in areas with high unmet medical need. Seelos is led by Chairman and Chief Executive Officer Raj Mehra, Ph.D. In conjunction with the reverse merger transaction, Seelos issued common stock and warrants for an aggregate purchase price of $18 million.

In September 2016, Ligand licensed rights to four programs to Seelos, which include:

• SLS-006 (formerly known as aplindore): first-in-class, small molecule, partial dopamine agonist for Parkinson’s disease. SLS-006 has successfully completed Phase 2 studies. Seelos intends to meet with the U.S. Food and Drug Administration (FDA) and the European Medicines Authority (EMA) to discuss plans for pivotal registration studies to commence in 2019. SLS-006 has shown efficacy in early-stage Parkinson’s disease patients as a monotherapy and as a potential adjunctive therapy in late-stage Parkinson’s disease patients upon co-administration with a low dosage of L-Dopa.
• SLS-008: once-daily, oral CRTh2 (Chemo-attractant Receptor-homologous molecule expressed on Th2 cells) that focuses on an undisclosed pediatric orphan indication. Seelos intends to file an Investigational New Drug (IND) application with the FDA for this pediatric orphan indication.
• SLS-010: oral histamine 3 receptor inverse agonist that has shown activity in narcolepsy and related disorders.
• SLS-012: Captisol-enabled injectable acetaminophen therapy for post-operative pain management.

Seelos Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on the development and advancement of novel therapeutics to address unmet medical needs for the benefit of patients with CNS disorders. The company’s robust portfolio includes several late-stage clinical assets targeting psychiatric and movement disorders, including orphan diseases. Seelos is based in New York City. For more information, reference Seelos filings with the Securities and Exchange Commission.

https://www.biospace.com/article/releases/ligand-partner-seelos-therapeutics-becomes-a-public-company/