At Convoy Therapeutics, we believe our uniqueness as a dermatology company lies in using cutting edge science and innovation to effectively treat the skin. Our mission is to develop transformative products to address unmet needs while optimizing outcomes for our patients.Convoy Therapeutics was foun…
At Convoy Therapeutics, we believe our uniqueness as a dermatology company lies in using cutting edge science and innovation to effectively treat the skin. Our mission is to develop transformative products to address unmet needs while optimizing outcomes for our patients. Convoy Therapeutics was founded in 2011, based on the proprietary Skin-Penetrating And Cell Entering (SPACE™) peptide technology invented by Professor Samir Mitragotri and his team at University of California, Santa Barbara. Our proprietary SPACE™ peptide technology platform provides unique solutions to the major drug delivery challenges faced by the dermatology and aesthetic industries, expanding existing markets and creating new ones. Our main target markets are medical dermatology ($20 billion), including psoriasis ($6 billion), and the aesthetics and anti-aging markets ($250 billion). Our technology platform offers a multitude of opportunities for developing innovative products in these and other markets that are much more effective than those currently available, and positions us and our partners to rapidly gain market share in the face of competition. Convoy has validated the efficacy of its SPACE™ technology with its first product Khalay HA™. Khalay HA™ is a topical hyaluronic acid for the cosmeceutical market which, when applied to the skin, shows exceptional results within three days. In 2013, Convoy signed its first co-development agreement for Khalay HA™ with Hugel Pharma for rights to the South Korean market. Worldwide rights to the professional channel are being negotiated with a large multinational, while license terms have been agreed to for the US and Canada rights to non-professional channels. We are expecting to close an additional multinational deal for the Food/Drug/Mass market channel later this year, negotiations for which are already under way. Following the licensing of Khalay HA™ and generation of early revenues, Convoy has turned its focus to its lead pharmaceutical program, the first ever topical formulation of cyclosporine for the treatment of mild to moderate psoriasis. Human proof of concept studies will be performed by Dr. Alan Menter (former President of the National Psoriasis Foundation and a key opinion leader in the psoriasis field) in late 2014. Our intention is also to advance our product pipeline to include other key markets such as eczema ($2 billion), acne ($2 billion), pigmentation ($111 million) and skin cancer ($132 million). Convoy is led by a management team with extensive experience in the dermatology space, supported by a Clinical Advisory Board comprising renowned key opinion leaders in the psoriasis field. We are currently seeking $36 million in funding, targeting an initial first tranche of $6 million to complete the pre-clinical physician-sponsored human proof of concept study in humans for the topical cyclosporine and to commence IND-enabling toxicology studies. The remaining $30 million will allow us to execute on our milestones and enable completion of our Phase 2 proof of concept clinical study. These funds will also enable the execution of at least two major co-development agreements with multinational pharmaceutical and consumer goods companies. At the end of this period, the company expects to have established a dependable royalty and licensing revenue stream from its Khalay HA™ and cyclosporine products to support ongoing pipeline development efforts and achieve early profitability.
Team (1)
Sectors Convoy Therapeutics serves:
Life Sciences
Health Care
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