Psychedelic medicine company Lobe Sciences Ltd. (CSE: LOBE) (OTCQB: LOBEF) announced it is buying Altemia & Company, LLC which includes all assets, know-how, intellectual property and commercial inventory to manage patients suffering from Sickle Cell Disease (SCD). The Seller has no current or long-term liabilities. Altemia shareholders will receive total consideration of $3,800,000 through the issuance on a pro-rata basis of an aggregate of 76,000,000 common shares of Lobe at a deemed issue price of $0.05 per Lobe share.
Altemia is a trademark registered to Altemia and Company, LLC of Stuart Florida. Altemia is the brand name of a patent-pending oral emulsion consisting of a proprietary mixture of polyunsaturated fatty acid triglyceride esters clinically evaluated to reduce inflammation associated with adults with SCD. SCD is among a few inborn errors of metabolism specifically named in legislation that qualifies as treatable with medical foods.
Lobe Sciences CEO Philip Young said, “This transaction will transform our company into a revenue-generating biotech company committed to treating Orphan Diseases and separating Lobe from the myriad of clinical-stage companies in North America and Europe. We will be able to use the revenue from the SCD sales to fund ongoing and planned clinical activities with L-130 and L-131. I look forward to providing updates as we move forward with the planning and launch of Altemia for the treatment of Sickle Cell Disease.” Lobe engages in drug research and development using sub-hallucinatory doses of psychedelic compounds and the development of innovative devices and delivery mechanisms to improve mental health and wellness. Each of its new chemical entities, L-130 and L-131, is being developed to address unmet medical needs in neurological therapeutic applications. These compounds are based on psilocin and L130 is being reviewed as a treatment for cluster headaches.
Sickle Cell Treatment
“Starting in the second half of 2023 we will launch our first commercial product, a medical food called Altemia for the management of SCD,” said Young. “This product has been well studied in human clinical trials. It is a proprietary, patent-pending formulation based on decades of research and will add commercial revenue this year and beyond. By targeting the 55 major SCD clinics in the United States we will be able to efficiently provide support and education for clinicians and other health care providers charged with treating this vulnerable population. As we prepare for launch and commercialization, I will be able to call upon my previous successes launching and selling Orphan Drugs in specialty markets. Altem will be positioned as a cost-effective medical food option for patients and payers seeking alternatives to drug products with significant side effects. We will be announcing further information related to our commercial plans shortly. In addition to Altemia we have acquired a clinical-stage asset, SAN100 which is being developed as a prescription drug alternative for the treatment of SCD uniquely in children. This indication may qualify for the Pediatric Priority Review Voucher.”
“I began research in the fundamentals of SCD over 12 years ago and believe that the disease has been misunderstood,” said Dr. Sancilio, Founder and President of Altemia and Company, LLC. He went on to say that “During the last several years, our team began to realize that SCD could be managed with consumption of docosahexaenoic acid ethyl ester, but due to its lack of bioavailability, consumption of amounts that could affect SCD were nearly impossible. It would require a patient to consume up to 10 huge soft gelatin capsules of prescription products each day to match a single dose of Altemia™. The search for a super-bioavailable form of this fatty acid led to a technology using a natural emulsification process that was adapted for this new product. By using this formulation and triglyceride esters instead of the ethyl ester, we can provide the equivalent of 10 or more soft gels in one packet of Altemia™.” Clinical trials were initiated in 2021 and completed recently showing Altemia™ to significantly reduce C-reactive protein in patients after the first month of intervention. C-reactive protein is a biomarker related to inflammation and when controlled may impart a positive effect for SCD sufferers. This led to patent filings and soon after, license agreements with distributors in Europe and elsewhere.”