Retrophin, Inc. (OTCQB: RTRX) today announced that it will acquire privately-held Kyalin Biosciences, Inc., an early-stage company based in San Diego, CA, that is developing therapies targeting the core symptoms of autism and related conditions. Its lead product is an optimized intranasal delivery form of carbetocin, a synthetic analog of the naturally occurring peptide hormone, oxytocin. The deal is scheduled to close by year-end.
As part of the transaction, Srinivas Rao, M.D., Ph.D., Founder and President of Kyalin Biosciences, joins Retrophin effective today as Executive Vice President, Head of Neuroscience with responsibility for central nervous system (CNS) drug development.
"We are pleased to announce the acquisition of Kyalin Biosciences and look forward to leveraging Dr. Rao's extensive work and expertise, particularly in the area of autism, as we seek to bring new treatment options to this catastrophic condition," said Martin Shkreli, Founder and Chief Executive Officer of Retrophin. "Kyalin's development of carbetocin for the treatment of autism and related conditions is a seamless fit with our strategy, which was outlined in this morning's announcement of our U.S. licensing agreement with Novartis for intranasal Syntocinon, and our planned clinical trial program for potential use of the drug as a treatment for schizophrenia and autism."