New Zealand Pharmaceuticals assigns to Altamira Bio

New Zealand Pharmaceuticals assigns to Altamira Bio its assets related to the development of N-acetyl-D-mannosamine (ManNAc) for the treatment of the rare genetic disorder, GNE myopathy, and various kidney diseases.

Palmerston North – July 17, 2015 – New Zealand Pharmaceuticals Ltd (NZP) has transferred its Patent License and related Agreements with the U.S. National Institutes of Health (NIH) for the development of oral N-acetyl-D-mannosamine (DEX-M74, ManNAc) to U.S.-based Altamira Bio, Inc., a subsidiary of Fortress Biotech, Inc. (NASDAQ: FBIO). NZP will receive milestone payments and royalties from Altamira Bio as the development program for DEX-M74 evolves.
ManNAc is a key compound in the sialic acid biosynthetic pathway and has the potential to treat a group of pathologies associated with hyposialylation of tissues including GNE myopathy, formerly known as Hereditary Inclusion Body Myopathy (HIBM) and various nephropathies.

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