60° Pharmaceuticals (60P) was founded in 2010 with a mission to discover, develop and distribute new medicines for treatment and prevention of tropical diseases. The company is focused on delivering new drugs at affordable cost while providing an attractive return for investors. 60P is a unique company whose core business is tropical disease drug R&D. 60P has embraced an open innovation approach to reduce the time, cost, and risk needed to build a portfolio of drug discovery and development projects.
Discovering, Developing and Distributing Drugs for Tropical Diseases
60° Pharmaceuticals (60P) was founded with the goal of discovering, developing and distributing drugs for tropical diseases, including those considered neglected by the World Health Organization. Malaria and tuberculosis are usually included on this list, and despite mature drug development pipelines for these diseases, critical gaps remain. 60P is focused on drug development for therapeutic modalities left un-addressed by the existing research and development networks, and will also invest in products for tropical diseases targeted at developed country market segments in order to improve overall return on investment.
Unmet Medical Need for Dengue Drugs
Initially 60P is focused on the discovery and development of new therapeutics to treat dengue. Dengue is a viral disease transmitted by mosquitoes. 2.5 billion are at risk and there are an estimated 96 million symptomatic cases every year. Mild dengue may progress to a hemorrhagic form and cause death. The economic burden of clinical cases based on 2006 data has been estimated to be $1.7 billion p.a. while potential drug sales assuming 100% market share are estimated to be $338 million p.a. However, these are likely to be underestimates given the recent report suggesting that the incidence of dengue may be three-fold higher than previously assumed. The current standard of care is fever and pain relief and transfer to ICUs. Dengue vaccines are coming, but supply constraints, cost, and other factors may limit their impact. Dengue drugs would complement the use of dengue vaccines by public health systems, provide relief to dengue patients, and substantially reduce economic costs associated with the disease.
Social Health Enterprise: Seeking a Balance Between Economic Return and Fair Pricing
60° Pharmaceuticals (60P) is a for-profit drug company with a unique social health mission. Their focus is on providing a social benefit to future customers (tropical disease patients). They are also committed to making an attractive economic return for their investors. 60P is seeking innovative approaches to balancing these goals. The markets for ‘block-buster’ drugs in developed countries depend upon maintenance of market exclusivity and maximum pricing. In contrast, the markets for drugs for tropical diseases are more modest, and customers in tropical countries are price-sensitive. 60P’s philosophy is that a limited period of market exclusivity is essential in order to reward investors for the risk of drug development, but should not be enforced in the least developed countries. Furthermore, pricing upon initial marketing of a drug should be linked to drug effectiveness and economic burden relieved.
Open Innovation Platform and Portfolio
60° Pharmaceuticals, LLC (60P) has embraced an open innovation platform to generate intellectual property and build our portfolio. They have or are collaborating with leading research institutions in the United States, Australia, Singapore and Italy to discover and develop oral medications for dengue They are currently planning a clinical development campaign for two drug candidates, a platelet activating factor receptor antagonist (60P002), and an alpha glucosidase I inhibitor (60P001), and are continuing to seek new in-licensing opportunities.