(PRESS RELEASE) SAN DIEGO and PERTH, AUSTRALIA — PYC Therapeutics (ASX: PYC), a biotechnology company developing a new generation of precision RNA therapeutics to change the lives of patients with inherited diseases, announced its residency at Johnson & Johnson Innovation, JLABS at San Diego (JLABS @ SAN DIEGO) after a successful application and selection process. This new U.S. location will serve as the Company’s U.S. headquarters which will house preclinical and clinical development, regulatory, manufacturing, business development and general corporate operations. The Company’s drug discovery and laboratory operations will remain in Perth, Australia.
“The establishment of a U.S. headquarters is critical for the sustained execution of PYC’s preclinical, clinical development and business development strategic priorities. We are pleased to join and contribute to the thriving biotech community in San Diego as we continue to drive momentum for our evolution into a clinical-stage company,” said Sahm Nasseri, U.S. chief executive officer of PYC Therapeutics. “We look forward to further growing our cross-functional team with experienced, top-tier talent in the U.S. who will collaborate closely with our foundational scientific and discovery team members in Perth as we develop next-generation RNA therapeutics that hold the potential to change the lives of patients with inherited diseases.”
PYC has appointed several key team members based at the new U.S. headquarters who will build out capabilities related to preclinical and clinical development, such as chemistry, manufacturing and controls and toxicology, and other corporate activities. The U.S. based team will remain focused on these activities to support the advancement into clinical development of PYC’s two lead drug candidates, VP-001 for the treatment of retinitis pigmentosa type 11 and VP-002 for the treatment of autosomal dominant optic atrophy caused by mutations in the OPA1 gene together with engagement with key stakeholders, such as institutional investors and potential BD partners.
JLABS @ SAN DIEGO is a 30,000 square-foot life science innovation center, located in San Diego. The labs provide a flexible environment for start-up companies pursuing new technologies and research platforms to advance medical care. Through a “no strings attached” model, JJI does not take an equity stake in the companies occupying JLABS and the companies are free to develop products – either on their own, or by initiating a separate external partnership with JJI or any other company.