Marizyme Inc., a biotechnology company based in the U.S., announced that they completed the purchase of a new protease drug platform. Composed of a mixture of enzymes, the platform was first created by Pharmacia Corporation in Sweden.
It underwent rigorous clinical testing in Europe in more than 551 patients. It has shown safety and efficacy for various indications such as healing of a wound, thrombogenic disease, and anti-viral uses.
Marizyme’s first product candidate which has been developed based on the protease platform is the MB101. The first-of-its-kind therapy has been tested in 13 clinical trials with 551 patients. It’s initially being developed for wound debridement and healing. The company said that it plans to file a Pre-IND with the Food & Drug Administration (FDA) to request to allow MB101 to be used in a Phase IIb/III clinical study.
The company’s second product candidate based on the same platform is MB102. It’s a patented formulation of endovascularly delivered proteases and can easily and efficiently remove clots which cause ischemic blockages in the human vascular system. The first indication would be an ischemic stroke in pediatrics as there are no approved thrombolytic therapies for use in children going through ischemic stroke.
Besides the acquisition of the protease, Marizyme also appointed a professional named, Mr. Michael K. Handley to supervise the company. He has been hired as the new CEO and a board member. Taking the place of Mr. Nick DeVito, Mr. Handley helps the company move ahead in the right direction by leveraging his vast knowledge of pharmaceutical and device development and commercialization. He said, “It is an honor to lead this company into the next chapter of its growth. I am excited about the opportunity to develop one of the world-leading acute care focused companies and improve and save the lives of patients who are afflicted from thrombogenic disease, infections or pain.”
Marizyme involves in the commercialization of therapies that cater to the need for higher mortality and costs in the acute care space. The company focuses more on the development of treatments for disease caused by thrombus, infections, and neurological conditions.
A Glance at the Enzymes Market
A report on enzymes market added by Big Market Research, says that the market was pegged at $7082 million in 2017 and is estimated to garner a sum of $10,519 million by 2024, growing at a CAGR of 5.7% during the forecast period, 2018 – 2024. Driving the market are factors such as growing demand for effective pharmaceuticals, increased demand for renewable energy sources such as biofuels, rise in prevalence of various chronic diseases such as digestive diseases & inflammation, and wide application of enzymes in various industries. Increase in awareness about the application of enzymes in protein engineering technology and high market potential in the untapped emerging economies are likely to offer potential growth opportunities for the industry.