Auris Medical Holding Ltd (NASDAQ: EARS) took over Trasir Therapeutics, Inc to concentrate on RNA Therapeutics development.
Inducts Samuel Wickline as CSO
The company will assume 0.77 million shares of Trasir besides cash outlays of certain shareholders. It closed the deal on June 1, 2021. Following the takeover, the company inducted professor (Medicine) and founder of Trasir, Samuel Wickline, as its CSO.
Auris also plans to divest its prevailing assets in allergology, rhinology, and neurotology in the medium term.
Auris’ Chairman, Thomas Meyer, said the takeover of Trasir provides the company with innovative RNA-based therapeutics that could disrupt the market.
The company makes an entry into the oligonucleotide delivery by acquiring Trasir.
The demand for RNA Therapeutics is over $1 billion
The worldwide market for RNA Therapeutics in 2020 is over $1 billion. It is necessary to develop delivery technologies to utilize their potential fully. Auris could use Trasir’s OligoPhore technology to administer RNA therapeutics to the tissues mainly outside the liver.
Auris would use OligoPhore technology to develop RNA therapeutics and further advance POC (Proof of Concept). Meyer said its prevailing business offers great potential. However, the company would concentrate on new strategies giving importance to the shareholders’ preferences.
Dr. Wickline incorporated Trasir in 2014 to provide an effective and safe oligonucleotide delivery. Its OligoPhore, the proprietary PPP (peptide polyplex platform), engages RNA in rapid assembly.
OligoPhore ensures effective and safe release of oligonucleotide payloads. It promotes endosomal release and efficient cellular uptake.
OligoPhore prevents degradation of RNA payload in the circulation.
Auris will initiate the development of its first pipeline program under the project code AM-401 for rare indication or in oncology utilizing the extensive work done by Wickline. It plans to submit IND by the end of 2022.
Auris would also explore new applications for the OligoPhore platform to deliver mRNA, siRNA, and gene editing constructs.
Proposes a name change
Auris director board would arrange a shareholder meeting to consider a name change to Altamira Therapeutics Ltd to reflect its strategic repositioning. Following the approval of shareholders, Altamira would trade under the ticker CYTO.
The director board would also appoint Margrit Schwarz as a member of the board. He will contribute over 25 years of experience in drug development and discovery.