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Turing Pharmaceuticals announced the launch of its company, the acquisition of three assets from Retrophin, and a new senior management team.
Turing Pharmaceuticals announced its official launch on Feb. 24, 2015. The New York-based company will focus on developing and commercializing innovative treatments for serious diseases and conditions that have limited or no treatment options and are across a broad range of therapeutic areas, according to a press release.
The company announced that it has acquired three assets from Retrophin. One of the acquisitions, an intranasal formulation of ketamine designed for psychiatric indications, will help Turing in developing a novel treatment for patients who have limited options. The second acquisition, Syntocinon (oxytocin nasal solution), will allow Turing to continue to develop treatments for multiple indications across various therapeutic areas. The final asset acquired was Vecamyl (mecamylamine HCI tablets), an FDA-approved treatment for moderate to severe hypertension, providing the company with its first stream of revenue.
In addition to Martin Shkreli, founder and executive chairman of Turing, the new company also announced its senior management team, which will consist of Howard Dorfman as senior vice-president, Hass Patel, PhD, as vice-president of chemistry, and Nicholas Pellicone, PhD, as vice-president of regulatory affairs. For a complete list of the senior management team announced, please see the press release.