Chromocell Announces Formal Launch of Eye Pain Treatment Program and Hiring of Dr. Simon Chandler
21 March 2024 - 11:30PM
Chromocell Therapeutics Corp. (“Chromocell”, or the “Company”),
(NYSE American: CHRO), a pioneer in the development of non-opioid
pain treatment therapeutics, today announced that it has formally
launched its eye pain treatment program with the hiring of Dr.
Simon Chandler.
The Company believes its sodium channel, NaV1.7
program will be suitable for an array of eye pain indications.
Common acute eye pain indications include corneal foreign body
damage or abrasion, acute angle closure glaucoma and post-surgical
sequelae. Chronic eye pain indications include autoimmune diseases,
dry eye and neuropathic etiologies. Chromocell’s platform uniquely
targets the NaV1.7 channels on the cornea with the ability to treat
all eye pain indications.
“The launch of our eye pain treatment program
represents a significant milestone for the Company. Eye pain
indications are currently under-served for treatment options, and
we believe, based on the data from our programs which address
various forms of systemic chronic pain using the same mechanism,
that targeting NaV1.7 sodium channels in the cornea represents a
viable, safe and effective treatment paradigm for eye pain,” said
Frank Knuettel, CEO of Chromocell. “Moreover, the market
opportunity in these under-served markets is considerable. As an
example, we estimate that there are roughly 5 million corneal
abrasions annually in the United States, representing an estimated
market opportunity of roughly $2.5 billion.
I welcome Dr. Chandler and look forward to
working with him as he guides this program towards providing much
needed, effective treatment options to sufferers of eye pain in the
United States and globally,” he added.
Dr. Chandler is well suited to manage the
program, with over 30 years of experience in managing ophthalmic
drug development programs. He has a Ph.D in Epigenetics and had a
post-doctoral position at the NIH studying molecular embryology.
With posts at Santen, ISTA, B&L, Allergan and Vyluma, he has
successfully developed several drugs in the areas of glaucoma, and
post-surgical eye pain, such as Durysta for Glaucoma and Bromday in
pain and inflammation post cataract surgery.
About Chromocell Therapeutics
Corp.
Chromocell Therapeutics Corporation is a
clinical-stage biotechnology company focused on developing and
commercializing novel, non-opioid, non-addictive therapeutics to
alleviate pain and other associated medical conditions. The
Company’s initial clinical focus is to selectively target the
sodium ion-channel known as NaV1.7 for the treatment of various
types of chronic neuropathic pain and eye pain. The Company’s
portfolio also includes pre-clinical work on other sodium channel
receptor subtypes, and the Company intends to explore these and
other compounds for the treatment of additional pain indications.
For company updates and to learn more about Chromocell,
visit www.chromocell.com or follow us on social
media.
Forward-Looking Statements
This press release contains forward-looking
statements regarding the Company’s current expectations. These
forward-looking statements include, without limitation, references
to the Company’s expectations regarding (i) the Company’s belief
that its portfolio of therapeutics will be suitable for an array of
eye pain indications, (ii) the Company’s belief that the market
opportunity in under-served markets is considerable and (iii) the
Company's intent to explore certain compounds for the treatment of
pain indications. These statements are not guarantees of future
performance and are subject to certain risks, uncertainties and
assumptions that are difficult to predict. Factors that could cause
actual results to differ materially from those set forth in such
forward-looking statements include, but are not limited to, risks
and uncertainties related to (i) the Company expending its limited
resources to pursue a compound or indication and failing to
capitalize on different compounds or indications that may be more
profitable or for which there is a greater likelihood of success
and the Company potentially not being successful in discovering,
developing and commercializing additional compounds, (ii) the
Company needing to establish its market development capabilities to
commercialize its products with the failure to do so potentially
resulting in an inability to generate any revenue, (iii) the
Company facing significant competition and its competitors
potentially achieving regulatory approval before the Company or
developing therapies that are more advanced or effective than the
Company’s, which may adversely affect the Company’s financial
condition, (iv) the Company’s ability to obtain and maintain
adequate U.S. and foreign patent protection for its compounds, the
Company facing litigation or administrative proceedings by a
third-party over its patents, changes in U.S. or foreign patent law
or interpretation thereof diminishing the value of its patents, and
the Company’s ability to protect the confidentiality of its trade
secrets, (v) third-parties instituting patent litigation against
the Company in the U.S. or a foreign jurisdiction asserting that
CC8464 and/or additional lead compounds infringe its patent rights,
the outcome of which would be uncertain and could have a material
adverse effect on the success of the Company’s business, (vi) there
being no guarantee that the results from prior clinical and
preclinical studies will be indicative of the Company’s ability to
complete studies or the results to be obtained in the current or
future studies and clinical trials and (vii) the Company’s ability
to retain key employees and scientific advisors and to attract,
retain and motivate qualified personnel. These and other risks and
uncertainties are described more fully in the section captioned
“Risk Factors” in the Company’s Registration Statement on Form S-1
(SEC File No. 333-269188). Forward-looking statements contained in
this announcement are made as of this date, and the Company
undertakes no duty to update such information except as required
under applicable law.
Chromocell Media and Investor Inquires:
LR Advisors LLC.Jason
Assad678-570-6791Jason@Chromocell.com
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