MLD creates spin-out company GraySpace Therapeutics

MLD is excited to announce that it has partnered with Induran Ventures to create GraySpace Therapeutics Inc. GraySpace Therapeutics will have exclusive world-wide rights to the plasmalogen precursor PPI-1011 for the treatment of Alzheimer’s and Parkinson’s disease, as well as all of the know-how relating to plasmalogen drug synthesis and formulation developed at MLD. The new company is being headed by Barry Markowsky, previous director of GSK Canada, along with Paul Lucas as Chairman, Shawn Ritchie as COO & CSO and Tara Smith as VP Science & Therapeutics. Peter Blaney of Induran Ventures assembled the team and is overseeing investment strategy and says that, “This opportunity to acquire a therapeutics asset that has promise in two major chronic neurodegenerative diseases comes once in a lifetime. The fact that there is already substantial data collected on this lead compound in combination with full access to know-how and expertise developed at MLD puts GraySpace in an excellent position to successfully advance PPI-1011 into the clinic.”

Barry Markowsky, CEO, is excited about the opportunity to break out of the amyloid mindset with a new approach. “Plasmalogen replacement for treating dementia is not a completely new idea, but to be successful, high doses and thus a traditional drug development path is required, says Barry. “With respect to Parkinson’s disease, our data showing prevention of LID [Levodopa-induced dyskinesia] when administered with Levodopa could be a game-changer for symptomatic therapy. The team at GraySpace is world-class, and after years of development we couldn’t be more excited to finally have an opportunity to properly advance this drug into the clinic.”

For more information, please contact Peter Blaney at Induran Ventures.