Allied Minds launches Novare Pharmaceuticals

Allied Minds plc (LSE:ALM) has launched Novare Pharmaceuticals (Boston, Mass.), a newco aimed at developing hyaluronan-mediated motility receptor ( RHAMM) modulators. The company was previously an Allied Minds subsidiary known as ProGDerm Inc.

RHAMM regulates stem cell production and cell movement. Novare is targeting RHAMM to moderate inflammation and reduce fibrosis. The company will pursue indications including arthritis, keloid scars and fibrotic diseases such as bronchopulmonary dysplasia in premature infants and idiopathic pulmonary fibrosis (IPF). ...