Xalud Therapeutics Discovers Potential Solution For Opioid Abuse Crisis

CHARLOTTESVILLE, Va.--(BUSINESS WIRE)--PBM Capital Group, a private investment firm primarily focused on healthcare-related investments including Xalud Therapeutics, and Xalud Therapeutics today announced that Xalud’s lead product, XT-150, potentially is a solution for the current opioid abuse crisis. XT-150 uses gene therapy to treat pain in a manner that is fundamentally different from other drugs, such as opioids currently on the market for the treatment of chronic pain. Rather than attempting to directly block neuronal pain signaling, XT-150 treats the inflammation that is responsible for the persistent, amplified pain signaling that is typical in chronic pain states.

“I am excited to join Xalud’s experienced team to help the company advance the clinical development of these potential products for patients in need.”

To help accelerate this product into the clinic, PBM and Xalud have appointed John Forsayeth, Ph.D., as Xalud’s Chief Scientific Officer. Dr. Forsayeth, who was one of the founders of Xalud, rejoins the company from UCSF where he served as Professor in the Neurotherapy Center within the Department of Neurological Surgery and is now Professor Emeritus. Previously, he was Director of Neurobiology at Avigen, and held senior research positions at Neurex and Elan Pharmaceuticals. He has been a principal investigator or co-investigator on multiple NIH-supported gene therapy grants, and is a co-author of over 100 peer-reviewed papers and book chapters. At Xalud, Dr. Forsayeth will focus on advancing the company’s key gene therapy programs in neuropathic pain and osteoarthritis, as well as the development of its platform technology targeting a receptor designed to increase potency and reduce the side effects of opioids.

By treating inflammation rather than blocking neuronal signaling, XT-150 is expected to provide long-term pain relief for many weeks and to avoid such side effects as sedation and dizziness that are typically associated with all leading prescription pain drugs.

“Neuropathic pain afflicts more than 6 million Americans and has a devastating personal, economic and social impact. As many as 40 to 60 percent of patients with neuropathic pain receive inadequate or no relief from existing therapies, with those most severely affected being the least likely to be helped. We hope that the successful development of our products will provide safe, efficacious, non-opioid treatment options for patients,” said Dr. Forsayeth. “I am excited to join Xalud’s experienced team to help the company advance the clinical development of these potential products for patients in need.”

According to federal data, healthcare providers write more than 250 million prescriptions a year for painkillers, enough for every American adult to have a bottle of pills. In 2013, an estimated 1.9 million people abused or were dependent on prescription opiates. President Obama, the National Governors Association and the Centers for Disease Control and Prevention have all recently proposed solutions to this crisis.

“Given all the growing concerns from regulators and physicians over opioids, it is timely for us to drive forward our potential solution toward the clinic,” said Linda Watkins, Ph.D., Xalud cofounder and Co-Chair of Xalud’s Scientific Advisory Board.

“We are excited to bring John onto the management team as he has tremendous experience in gene delivery and neuromodulation. With plans to advance multiple products into the clinic this year, his experience in the field will be invaluable to Xalud,” said Stephen Collins, M.D., Ph.D, Chairman of Xalud.

About Xalud Therapeutics

Xalud Therapeutics, Inc. is developing novel therapies for the treatment of neuro-inflammatory diseases. Xalud is also developing treatments for inflammatory joint disorders including osteoarthritis and rheumatoid arthritis. For more information, please visit www.xaludthera.com.

About PBM Capital Group

PBM Capital Group, LLC. is a private investment firm primarily focused on healthcare-related investments. Led by Paul Manning, a successful entrepreneur, PBM Capital partners with exceptional scientists, engineers and entrepreneurs who have developed game-changing technology that can improve and save the lives of millions of people. PBM has several investments in gene therapy companies, including Xalud Therapeutics (www.xaludthera.com) and AveXis (www.avexis.com), which recently had an IPO (NASDAQ: AVXS). Visit www.pbmcap.com for more information.