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Cosmas Therapeutics Development Inc.

Location:Quebec, CA
Speaker:Michael Atkin
Primary Industry:Pharmaceuticals
Executive Summary:We have pioneered a novel, first-in-class treatment for insomnia with the efficacy of benzodiazepine and GABA agonist drugs plus the safety profile of non-selective melatonin agonists. Our first human clinical study will use EEG technology within a Phase I unit to prove efficacy, building serious value accretion early in development. The hypnotic market is the only CNS indication where animal models are completely predictive of results in man. The insomnia market will become increasingly fragmented, but peak sales in the $350 million range are possible for an innovative drug with good efficacy and safety. In 2007 Eli Lilly acquired Hypnion for $315 million, and in 2008 GSK licensed Actelions\'s orexin antagonist for sleep. These examples demonstrate pharma hunger for novel mechanism sleep drugs with clinical proof of concept. Cosmas and McGill University have raised $2 million in soft money financing and venture debt contributed by MSBiV. The McGill based founder of Cosmas is Gabriella Gobbi, MD, PhD. Dr. Gobbi is a neuroscientist and psychiatrist, with an interest in the sleep field and melatonin, together with researches on the endocannibanoid system. She conducts sleep and pharmacology models in her laboratory.
Venture is:Seed Level

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