Fairbanks Pharmaceuticals, Inc. has been awarded a Phase II Small Business Innovation Research (SBIR) grant for $1.83M from the National Institutes of Health.The Phase II SBIR is a highly competitive program that encourages domestic small businesses to engage in Federal Research/Research and Development (R/R&D) that has the potential for commercialization.
Fairbanks was awarded the SBIR grant for its proposal “Development Of Novel Diabetes Therapies Based On Neutralizing FSTL3 Activity” following up from the demonstration of feasibility duringits Phase I SBIR grant awarded in 2016. The Phase II award started in June 2018 and will run for two years.During this time Fairbanks will test its lead antibody in vitro and in two mouse models of diabetes for efficacy in treating diabetes.Another arm of the study will analyze whether this antibody treatment induces regeneration of beta cells through transdifferentiation from alpha cells.
It is anticipated that Fairbanks will be in a position to begin human testing around 2020.With preliminary results obtained as a result of pursuing SBIR funding, Fairbanks is currently in discussion with potential partners to help develop this therapy for human use.
The Endocrine Society held its Annual Meeting in Chicago March 17-20th, 2018. A major focus of endocrinology involves metabolism and diabetes and Fairbanks Pharmaceuticals CEO Alan Schneyer presented the progress achieved by Fairbanks Pharmaceuticals in developing a new diabetes therapy in a poster on Monday March 19th.
In the poster he described the scientific basis for the therapeutic strategy of neutralizing FSTL3, development of antibodies that can achieve this goal, and initial testing showing promise on diabetic mouse islets.
In recognition of its strength and uniqueness, the poster was selected for a new activity where top posters are presented orally to an assembled group of scientists during the poster session. The response to this therapeutic was positive and encouraging and we look forward to continuing the development program with in vivo studies in the near future.
As an SBIR awardee, Fairbanks Pharmaceuticals receives assistance with corporate and product development provided by National Institutes of Health. As part of this NIH-funded assistance, Foresight Science & Technology has produced an independent technology niche analysis of Fairbanks.
The service includes a market analysis. Foresight estimates that the global market for diabetes treatment is currently over $30 billion and it is expected to exceed $50 billion in the US alone by 2025. Their report said this could drive revenues of over $3.8 billion within five years.
To evaluate Fairbanks’ technology, Foresight contacted a number of clinical and research experts involved with both type 1 and 2 diabetes, including Dr. Alvin Powers, Dr. Thomas Blevins of Texas Diabetes and Endocrinology and Dr. Phil Zeitler of the Children’s Hospital of Colorado.
As summarized in the report, these experts thought that
“that there is absolutely a need for a treatment for beta cell regeneration. It would have wide spread utility.”
“there is definitely a need for a product that will lead to beta cell regeneration and natural insulin production.”
“it could be very important” because “the problem with current products on the market are only partially successful. They do not really get at the pathophysiology.”
These comments from the Foresight report indicate that Fairbanks’ technology will be a novel and effective treatment and potential cure for both type 1 and 2 diabetes. Moreover there is likely to be both patient and doctor acceptance of this new treatment that would reduce or prevent much of the long-term morbidity that consumes so many health care dollars.
Fairbanks Pharmaceuticals was selected as a finalist to compete in the RESI Boston 2017 Innovation Challenge. On September 26, Fairbanks Co-Founder and CEO Alan Schneyer presented a poster at RESI, met with potential investors and funding agencies, and networked with angel investors.
The response so far has been very encouraging and has led to a number of follow up conversations.
1. Fairbanks Pharmaceuticals was a runner-up in the MilliporeSigma Golden Ticket competition and received an in-kind award from MilliporeSigma. We thank the judges and organizers and look forward to more competitions this year.
2. Fairbanks was selected to participate in the Innovation Challenge at RESI Boston by judges at Life Science Nation. We will be presenting a poster and meeting with potential investors at the meeting in Boston on September 26th. We look forward to the opportunity to meet investors and Pharma representatives and describe our therapeutic development plan and progress.
Fairbanks Pharmaceuticals Inc was selected as a semi-finalist in the competition for MilliporeSigma’s Start-Up program at LabCentral in Cambridge MA. The winner will be awarded a “Golden Ticket” of 1 year of space at one of the country’s leading and highly desirable biotechnology incubators, a fantastic opportunity to move to an environment that fosters partnerships and collaborations that can accelerate our therapeutic development activities.
On August 1, Dr. Alan Schneyer, Fairbanks Co-Founder and CEO, presented Fairbanks’ plans and progress to a highly selective board of judges composed of MilliporeSigma scientists and Lab Central Senior Managers. Results of the judges decision will be announced in mid-August.
Fairbanks Pharmaceuticals presented its unique and innovative approach to attacking the underlying pathology of diabetes by increasing insulin production from existing beta cells and simultaneously inducing regeneration of beta cells at the MassCONNECT Final Showcase on May 18th 2017.The presentation was met with widespread interest from both pharma and private investors.
The Final Showcase was the culmination of an eight-week mentorship program with a team of biotech and pharmaceutical industry leaders to help with strategic planning, identifying potential partners and financing, and developing a slide deck.