Celtic Pharma, RUSNANO form nanotech-based newco

The Russian Corp. of Nanotechnologies and Celtic Pharma Holdings launched Pro Bono Bio, a newco developing products based on its Sequessome nanotechnology. Celtic Pharma's John Mayo is CEO of Pro Bono, which is headquartered in London and Moscow.

Pro Bono will market its products in different areas using a tiered pricing system based on a region's ability to pay. Its first product, Flexiseq topical gel, is marketed in the U.K. to treat osteoarthritis pain. Pro Bono also plans to launch Flexiseq in Russia in 2Q12 at a reduced price relative to the U.K. price and provide the product in East Africa for free. Flexiseq is comprised of lipid vesicles that physically sequester arachidonic acid, preventing its conversion to prostaglandin mediators involved in pain and inflammation. ...