Lobe Sciences, Ltd. Announces Amendment to the Acquisition of Altemia™ & Company
15 September 2023
Lobe Sciences Ltd. (CSE: LOBE) (OTCQB: LOBEF), a North American biopharmaceutical company dedicated to the development of patient-centric medications for orphan and rare diseases, has announced a significant update. On August 30, 2023, the company signed an amendment to the share purchase agreement to acquire a 100% interest in Altemia™ & Company, LLC ("Seller"). This acquisition encompasses all assets, proprietary knowledge, intellectual property, and commercial inventory related to the management of patients suffering from Sickle Cell Disease (SCD). This amendment builds upon the original announcement made on April 18, 2023.
Altemia™ is a registered trademark owned by Altemia and Company, LLC, based in Stuart, Florida. Altemia™ represents a patent-pending oral emulsion containing a proprietary blend of polyunsaturated fatty acid triglyceride esters. This formulation has undergone clinical evaluation for its effectiveness in reducing inflammation associated with Sickle Cell Disease (SCD) in adults. Altemia™ falls under the category of medical food, as defined in section 5(b) of the Orphan Drug Act (21 U.S.C. 360ee(b)(3)). Medical foods are formulated to be consumed under the supervision of a physician and are intended for the specific dietary management of a disease or condition with distinct nutritional requirements, established through medical evaluation. SCD is one of the few inborn metabolic disorders explicitly identified in legislation as treatable with medical foods. For more details, visit http://altemiascd.com/. It's important to distinguish this product from a previous development program with a similar name, known as Altemia (SC411), which was the project name used during the development of a drug product to treat SCD in children.
About Sickle Cell Disease (SCD)
SCD is a collection of hereditary disorders affecting red blood cells. In a healthy individual, red blood cells are spherical and smoothly traverse small blood vessels, carrying oxygen throughout the body. In individuals with SCD, red blood cells become inflamed under certain stress conditions, leading to various symptoms, including elevated levels of C-Reactive Protein (a biomarker for SCD). Inflammation results in the hardening and stickiness of red blood cell membranes, slowing down or blocking blood flow in capillaries throughout the limbs and organs. This reduced blood flow triggers a series of events, causing pain and vaso-occlusive events (VOC). Sickle cells also have a shorter lifespan than normal red blood cells, and the bone marrow can't generate new red blood cells quickly enough to replace the dying ones, resulting in chronic anemia. Blocked blood flow can lead to pain and severe complications like infection, acute chest syndrome, and stroke. Populations affected by SCD have shortened lifespans. According to the CDC, SCD affects approximately 100,000 individuals in the United States, occurring in approximately 1 out of every 500 Black or African American births and 1 out of every 36,000 Hispanic American births. A similar number of patients are affected in Europe, with millions more in the Middle East, Africa, and India. Lobe Sciences plans to market this product globally, either directly or through partnerships.