NeuroBo Pharmaceuticals has completed its previously announced combination with Gemphire Therapeutics.
The combined unit will operate as NeuroBo Pharmaceuticals with NeuroBo shareholders holding a 96.24% stake in the firm.
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With the transaction now complete, the merged firm will continue to work on NeuroBo’s clinical-stage drug candidates for neurodegenerative disorders. Richard J Kang will act as president and CEO of the combined company.
Kang said: “We believe that the closing of the merger signifies a transformative event that will provide NeuroBo with the opportunity to achieve its next level of corporate growth as we continue to advance our promising pipeline for neurodegenerative diseases.
“As we look ahead, we have some important milestones on the horizon.”
The company’s lead drug candidate is NB-01 to treat painful diabetic neuropathy (PDN). In Phase-II trial, NB-01 showed improved pain scores from baseline, as measured by a pain study numeric rating scale.
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By GlobalDataNeuroBo plans to begin a Phase III study of the candidate in the first half of this year, involving 460 subjects with PDN across the US.
The company’s drug candidate portfolio also includes NB-02 designed to treat Alzheimer’s disease, as well as neurodegenerative diseases associated with tau protein pathological dysfunction in the brain.
Furthermore, NeuroBo intends to advance with the development of Gemphire’s gemcabene to treat dyslipidemia.
In July, NeuroBo Pharmaceuticals and Gemphire Therapeutics signed an agreement to merge their operations through an all-stock transaction.
The corporate headquarters of the combined firm is in Massachusetts.
