- Biopharma industry analysts have been expecting 2022 to be a heady year for big-pharma acquisitions or partnerships with promising medical upstarts following a time period that has left the biggest companies flush with cash
- Among promising device and drug developers, Odyssey Health Inc. has been working on novel solutions to brain concussion injuries, a rare neurodegenerative disease, obstructive choking incidents and early-stage coronary artery disease (“CAD”) detection
- Odyssey Health Inc. is taking its brain concussion solution to a Phase 1 clinical human trial currently with possible progression to Phase 2 before the end of the year
- The company likewise anticipates it could advance its two device products for FDA submission by year’s end and on to potential commercial development
As 2022 got under way, the biopharma world was trying to predict where the major acquisitions for the year would take place and how much would be spent on M&A, given the cash-flush environment of big-pharma, particularly for those successful in responding to COVID-19, and the patent cliffs many of those companies are facing (https://ibn.fm/IUXaV).
Halfway through the year, deal values are down by 58 percent and volume has decreased by 33 percent, according to professional services firm PwC. And yet the company’s analysts are continuing to predict a flurry of activity will bring equilibrium to industry outlooks by year’s end as big-pharma hunts for biotechs focus on early-stage companies and bolt-on transactions (https://ibn.fm/Hc5rS).
That class of deals is exemplified by recent M&A efforts by Pfizer to acquire migraine therapy innovator Biohaven (https://ibn.fm/NBS7x) and partner with “mystery startup” Priovant, an autoimmune disease biotech unit of Roivant (https://ibn.fm/FasFg), while Bristol Myers Squibb is dealing with the adoption of cancer drug maker Celgene (https://ibn.fm/BPHlG).
Medical device innovator and biopharmaceutical product developer Odyssey Health (OTC: ODYY) is optimistic about the trend as the company continues to dedicate its operational strategy toward the acquisition and creation of lifesaving medical products.
Odyssey’s portfolio includes medical device candidates and pharmaceutical products in development that are responsive to conditions such as heart disease, foreign object-induced choking, neurodegenerative disorders and brain concussion injuries.
One drug product designed to treat mild traumatic brain injury within the first few minutes after an incident is advancing in a Phase 1 clinical human trial following on preclinical lab animal tests that provided encouraging data, CEO Michael Redmond said in a June interview (https://ibn.fm/QCCH4).
No U.S. Food and Drug Administration (“FDA”)-approved drug exists at this point, creating a particular opportunity for the company. The other drug substance is a novel compound intended to treat neurodegenerative Niemann-Pick disease, which leaves patients with an average lifespan of five to 20 years beyond diagnosis.
The company’s device technology includes a monitoring and screening device for early detection of coronary artery disease and a handheld choking rescue device (https://ibn.fm/MUhfe).
“We could be in commercial — with proper funding and if we meet our technical goals — we could be into the FDA by the end of this year with both of those products,” Redmond said.
For more information, visit the company’s website at https://odysseygi.com/.
NOTE TO INVESTORS: The latest news and updates relating to ODYY are available in the company’s newsroom at https://ibn.fm/ODYY
BioMedWire (BMW) is a bio-med news and content distribution company that provides (1) access to a network of wire services via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with BMW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled visibility, recognition and brand awareness. BMW is where news, content and information converge.
To receive SMS text alerts from BioMedWire, text “Biotech” to 844-397-5787 (U.S. Mobile Phones Only)
For more information, please visit https://www.biomedwire.com
BioMedWire is part of the InvestorBrandNetwork.