Sol-Gel acquires patidegib rights from PellePharm

Israel-based dermatology focussed biotech Sol-Gel Technologies (Nasdaq: SLGL) says it has acquired rights to the topically-applied patidegib, a hedgehog signaling pathway blocker, for the treatment of Gorlin syndrome from US drug developer PellePharm. Sol-Gel’s shares on Friday closed down 2.6% at $5.16 following the announcement

Gorlin syndrome is a rare disease with no currently approved therapies by the US Food and Drug Administration (FDA) or European Medical Association (EMA). Sol-Gel broadens its pipeline with this new chemical entity, designated as investigational compound SGT-610, which has the potential to be the first-ever drug for treatment of Gorlin syndrome. Sol-Gel expects the transaction to close on or about January 30.

Patidegib has been granted Orphan Drug designation by the FDA and the EMA as well as Breakthrough Therapy designation by the FDA. Both the FDA and EMA have stated that approval may be supported by a single pivotal Phase III study.