NEW YORK, April 15, 2014 (GLOBE NEWSWIRE) -- Premune, an animal health company focused on the development of new therapeutics for companion animals, today announced the formation of Premune Inc., a wholly-owned U.S. subsidiary that will be established as the Company's U.S. headquarters in New York City.
Premune Inc. will be led by CEO and co-founder Viktor Karlsson. The New York headquarters will serve as the base of operations for the Company's global partnering, licensing and business development efforts. Premune's core research and development team will remain in Sweden, under the supervision of Chief Scientific Officer, Dr. Alf Lindberg, former secretary of the Nobel Committee in Medicine.
With a strong foundation in immunology and inflammatory diseases, the Company's pipeline targets several of the most prevalent problem areas in companion animal health, including the world's first preventive treatment for allergies. Premune's research team was the first to demonstrate that delayed exposure to gut bacteria is a major risk factor for allergies in humans. The adaptation of this science to companion animal health is the basis for several of the Company's pipeline products. Premune's first product is expected to launch in the United States in 2015.
"The formation of Premune Inc. and the establishment of our corporate headquarters in the world's largest animal health market is a significant milestone for our Company as we continue building our global presence," said Mr. Karlsson. "With approximately 67 percent of U.S. households owning a dog or cat, Americans spent over $55 billion on their pets in 2013. According to the American Pet Products Association, pet-related spending in the U.S. has increased for each of the last 20 years, making it one of the few industries immune to macroeconomic weakness. This steady, long-term growth supports our belief in the significant market opportunity for our unique animal health products."
"The business development efforts we are undertaking now will set the foundation for the commercial success we anticipate as we bring our existing products to market and continue to grow our pipeline. We utilize a twofold approach to pipeline development – leveraging our world-class R&D capabilities and further expanding our in-licensing portfolio with products that increase Premune's footprint in companion animal health."
Premune is an animal health company focused on the development and commercialization of novel therapeutics for the treatment and prevention of some of the most common conditions affecting companion animals. The Company's pipeline targets indications such as allergies and inflammatory diseases that are highly prevalent in cats and dogs. Premune's current product candidates are the result of decades of collective research in bacteriology and immunology at University of Gothenburg, one of Sweden's leading academic institutions. Premune's pipeline consists of products in various stages of clinical development. The Company is continuously expanding its therapeutic portfolio through a combination of in-house research and development projects, projects in conjunction with its academic partners, and the strategic in-licensing of additional product candidates. The Company's in-licensing strategy is to identify therapeutic entities in development for humans that exhibit potential efficacy in companion animals as well. Premune advances these products through clinical development and brings them to market in veterinary pharmaceutical and nutraceutical arenas. Premune's goal is to improve the quality of life for companion animals worldwide by translating leading human research to pets. www.premune.com
Premune: Adapting human science to improve pet health