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Object Will Commercialize the Full Spectrum of Botulinum Neurotoxins to Address Unmet Medical Needs
Newport Beach, CA – May 28, 2019
Object Pharma, Inc., a privately held pharmaceutical company that is innovating the future of neurotoxins, today announced the strategic acquisition of Metabiologics, Inc., a globally recognized leader in the production and sale of botulinum toxins for research. The acquisition provides Object the exclusive ownership and commercialization rights to a full spectrum of botulinum toxins. Metabiologics' library of cell lines expresses all neurotoxin serotypes, which is unprecedented in the industry, and includes all of the currently marketed neurotoxins.
Botulinum neurotoxins are potent natural molecules that are used to treat a growing array of cosmetic and therapeutic indications, due to their ability to temporarily reduce or eliminate the function of specific muscles. These molecules have tremendous therapeutic potential to address unmet medical needs affecting hundreds of millions of patients worldwide, such as reducing the need for opioids.
Dr. Mike Goodnough, co-founder of Metabiologics, noted, "We are very excited to join the Object team to unleash the full potential of our library of molecules." The acquisition provides Object with the platform that will position the company to capture significant market share in aesthetic and therapeutic medicine indications. Regarding the commercial importance of the acquisition, James Stonecypher, CEO of Object Pharma, described the acquisition, saying, “This spectrum of unique and highly differentiated neurotoxins will enable Object to innovate novel products with desired clinical characteristics that are superior to currently approved treatments, such as Botox®.”
The existing global botulinum toxins market is worth $5 billion USD annually and is growing at 14% CAGR, despite the fact that no novel neurotoxins have been approved in 20 years. [name, title] commented “With the novel neurotoxins that Object is commercializing, our projections are driving a global market increase to $25 billion by 2028”, “The multiple neurotoxin molecules in Object’s pipeline coupled with our disruptive business strategy enables us to leverage many competitive advantages over established players and new entrants into the neurotoxin market.” The current neurotoxin market is dominated by Botox® and a handful of similar follow-on products, which are not substantially differentiated in their clinical characteristics of potency, onset of action, and duration of effect. “The currently available neurotoxin treatments are all based on the same molecule and have the same onset and duration,” said Steve Yoelin, M.D., “For cosmetic use in particular, a longer-acting neurotoxin would be the ‘Holy Grail’ that many of my patients have been asking for.”