Nexturn Bio Inc. has revealed to have acquired a 50% stake in drug developer RosVivo Therapeutics Inc. for around USD 5.5 million.
The move will allow Nexturn Bio to boost its capabilities by co-jointly developing new medication pipelines using miRNA technology to target diabetes, gastrointestinal (GI) dysmotility, non-alcoholic fatty liver disease (NAFLD), obesity, and COVID-19.
Nexturn Bio Inc. opted to invest in RosVivo Therapeutics and its miRNA technology after a thorough review and evaluation by prominent law firms, patent companies, strategy consulting corporations, and domestic and foreign accounting firms.
Nexturn had also discussed with many prominent companies in gastroenterology and endocrinology and obtained positive comments on the efficiency of RosVivo Therapeutics’ new drugs.
Notably, RosVivo Therapeutics’ innovative miRNA drug RSVI-301 is known to reduce injection frequency, while ensuring a long-term effect. This drug can also cure side effects such as GI dysmotility in animal studies.
According to Global Market Insights, Inc., the global diabetes drugs market had reached a valuation of USD 65.5 billion in 2019, primarily due to increasing focus among several pharmaceutical companies towards early-stage diabetes drugs.
Diabetes is considered to be an expensive prolonged disease, costing a specific patient around USD 222 and USD 476 per month for non-insulin and insulin drugs. However, irrespective of such huge expenses, conventional diabetes drugs have not yet been able to solve issues related to regular administration and several side effects.
Many treatments for diabetes depend on relieving the relevant symptoms, which notably is not a long-term solution. Hence, there is an urgent need to develop a drug for treating the root cause of diabetes.
In addition to the RSVI-301, RosVivo Therapeutics is also planning to collaborate with recognized universities and healthcare institutions to commence clinical trials for its another treatment pipeline named RSVI-305/306 which can potentially cure COVID- 19.
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