New name, logo, website, and branding reflect the Company's strategic shift toward developing potentially groundbreaking autoimmune and inflammatory disease therapies
Company to begin trading under new ticker symbol "FRTX" on September 8, 2022
Company also establishes Scientific Advisory Board consisting of renowned autoimmune and inflammatory disease experts to provide strategic guidance for the research and development of FRTX's novel pipeline
BOULDER, Colo., Sept. 07, 2022 (GLOBE NEWSWIRE) -- Brickell Biotech, Inc. ("Brickell") (Nasdaq: BBI) today announced that it has changed its name to Fresh Tracks Therapeutics, Inc. ("FRTX" or the "Company"). The new name, logo, website, and branding elements were introduced to reflect the company's evolution into a clinical-stage pharmaceutical company aiming to disrupt existing treatment paradigms by developing innovative and differentiated prescription therapeutics for the treatment of autoimmune, inflammatory, and other debilitating diseases. The Company's common stock will begin trading under the new Nasdaq ticker symbol "FRTX" on September 8, 2022.
"We believe the name Fresh Tracks Therapeutics captures the essence of our mission to develop groundbreaking, novel therapies that have the potential to restore immune balance," commented Robert Brown, the Company's Chief Executive Officer. "Over the past year, our company executed a fundamental shift in strategy by acquiring multiple innovative platforms with broad potential as treatments for autoimmune and inflammatory diseases. This includes FRTX-02 (formerly BBI-02), a clinical-stage oral DYRK1A inhibitor, FRTX-10 (formerly BBI-10), a preclinical-stage STING inhibitor, and our next-generation kinase inhibitors. At its core, this rebrand highlights our commitment to shift treatment paradigms by exploring beyond current conventions with targeted, science-driven, and potential first-in-class therapies."
The introduction of the Fresh Tracks Therapeutics brand is designed to represent the Company's fresh vision and development strategy. The unveiling of the Company's rebranding reinforces its commitment to develop novel therapies in immunology and inflammation, its path toward strategic growth, and a renewed corporate strategy.
Scientific Advisory Board
In connection with the rebrand to Fresh Tracks Therapeutics, the Company announced the formation of a Scientific Advisory Board ("SAB") consisting of renowned scientists and clinicians with deep experience across immunology and inflammation, including Drs. Kate Fitzgerald, Bernard Khor, Pui Lee, Peter Nigrovic, and Bridget Wagner. The SAB will provide expertise and guidance to the FRTX management and Board of Directors as the Company develops its novel pipeline of differentiated therapies for the treatment of autoimmune and inflammatory diseases, including FRTX-02, FRTX-10, and next-generation kinase inhibitor platform.
The members of FRTX's SAB are:
- Kate Fitzgerald, Ph.D. Professor of Medicine, Worcester Foundation Chair in Biomedical Sciences, Vice Chair for Research and Chief for the Division of Innate Immunity in the Department of Medicine, and Director of the Program in Innate Immunity at the University of Massachusetts Chan Medical School
- Bernard Khor, M.D., Ph.D. Assistant Member of the Benaroya Research Institute, Affiliate Assistant Professor at the University of Washington, and Associate Medical Director of Bloodworks Northwest
- Pui Lee, M.D., Ph.D. Attending Physician in Rheumatology in the Division of Immunology at Boston Children's Hospital and Assistant Professor of Pediatrics at Harvard Medical School
- Peter Nigrovic, M.D. Chief of the Division of Immunology and Attending Physician in Rheumatology at Boston Children's Hospital, Prince Turki bin Abdul Aziz al-Saud Professor of Pediatrics at Harvard Medical School, and Director of the Brigham's Center for Adults with Pediatric Rheumatic Illness (CAPRI)
- Bridget Wagner, Ph.D. Institute Scientist and Director of Pancreatic Cell Biology and Metabolic Disease in the Chemical Biology and Therapeutic Sciences Program at the Broad Institute of Massachusetts Institute of Technology and Harvard
"We are honored to welcome this team of world-renowned scientists and clinicians to our newly-established SAB," stated Monica Luchi, M.D., the Company's Chief Medical Officer. "These thought leaders have decades of hands-on experience in the fields of immunology and inflammation, and their input and guidance will be invaluable as we develop our pipeline of novel therapeutics."
About Fresh Tracks Therapeutics
Fresh Tracks Therapeutics, Inc. is a clinical-stage pharmaceutical company striving to transform patient lives through the development of innovative and differentiated prescription therapeutics. The Company's pipeline aims to disrupt existing treatment paradigms and features several new molecular entities that inhibit novel targets with first-in-class potential for autoimmune, inflammatory, and other debilitating diseases. Fresh Track Therapeutic's executive management team and board of directors have a proven track record of leadership across early-stage research, product development, and global commercialization, having served in leadership roles at large global pharmaceutical and biotech companies that successfully developed and/or launched first-in-class products that achieved iconic status, including Cialis®, Taltz®, Gemzar®, Prozac®, Cymbalta®, Juvederm®, Pluvicto®, and Sofpironium Bromide. The Company's strategy is to align this experience and clear vision to explore beyond the limitations of current therapies by identifying, pursuing, and developing next-generation therapeutics that can be groundbreaking in their ability to help millions of people struggling with autoimmune, inflammatory, and other debilitating diseases. For more information, visit https://www.frtx.com/.
Cautionary Note Regarding Forward-Looking Statements
Any statements made in this press release relating to future financial, business, and/or research and clinical performance, conditions, plans, prospects, trends, or strategies and other such matters, including without limitation, FRTX's strategy; future operations; future financial position; future liquidity; future revenue; territorial focus; projected expenses; results of operations; the anticipated timing, scope, design, progress, results, and/or reporting of data of ongoing and future non-clinical and clinical trials; intellectual property rights, including the acquisition, validity, term, and enforceability of such; the expected timing and/or results of regulatory submissions and approvals; and prospects for commercializing any product candidates of FRTX or third parties, or research and/or licensing collaborations with, or actions of, its partners, including in the United States, Japan, South Korea, or any other country are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. In addition, when or if used in this press release, the words "may," "could," "should," "might," "change," "announce," "establish," "anticipate," "reflects," "believe," "estimate," "expect," "intend," "plan," "predict," "potential," "will," evaluate," "advance," "excited," "aim," "strive," "help," "progress," "select," "initiate," "look forward," "promise," "provide," "commit," "best-in-class," "first-in-class," and similar expressions and their variants, as they relate to FRTX or any of FRTX's partners or third parties, may identify forward-looking statements. FRTX cautions that these forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which change over time, often quickly, and in unanticipated ways. Important factors that may cause actual results to differ materially from the results discussed in the forward-looking statements or historical experience include risks and uncertainties, including without limitation, research results and data that do not meet targets, expectations or regulatory approval requirements; ability to obtain adequate financing for product development, regulatory submissions, and any commercialization; ability to acquire, maintain and enforce intellectual property rights; potential delays or alterations in product development, trials of any type, and regulatory submission and reviews; changes in law or policy; litigation, regulatory agency feedback or requests; supply chain disruptions; unanticipated demands on cash resources; disruptions and negative effects related to the COVID-19 pandemic and the conflict in Ukraine; interruptions, disruption, or inability by FRTX, its partners or third parties to obtain or supply research material, raw materials, and/or product anywhere, or secure essential services, in the world; efforts to obtain and retain adequate pricing and adequate reimbursement and other insurance coverage for FRTX's products; the outcome of FRTX's current and planned preclinical and clinical trials across its portfolio of assets; the inability of third parties to achieve the regulatory and sales-based events under FRTX's agreements with them, or their lack of funds, resulting in FRTX not receiving additional or full payments due from them; and other risks associated with developing and obtaining regulatory approval for, and commercializing, product candidates.
Further information on the factors and risks that could cause actual results to differ from any forward-looking statements are contained in FRTX's filings with the United States Securities and Exchange Commission, which are available at https://www.sec.gov (or at https://www.frtx.com/). The forward-looking statements represent the estimates of FRTX as of the date hereof only. FRTX specifically disclaims any duty or obligation to update forward-looking statements.
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