PurMinds NeuroPharma has completed its acquisition of a novel chemical entity called SW-200, which is a selective histone deacetylase 6 (HDAC6) inhibitor. HDAC6 inhibitors have the potential to enhance axonal transport in neurons, making them a novel class of therapeutics for neurodegenerative disorders. PurMinds aims to develop an HDAC6 inhibitor for Charcot-Marie-Tooth Disease and other neurological disorders like Alzheimer’s, Parkinson’s, and multiple sclerosis, which share axonal dysfunction as a pathological mechanism. The NCE was invented by Dr. Alan Kozikowski and holds promise for addressing conditions currently lacking a cure.
Anzu Special Acquisition Corp I (NASDAQ: ANZU) (NASDAQ: ANZUU) (NASDAQ: ANZUW) (“Anzu”), a special purpose acquisition company, and Envoy Medical Corporation (“Envoy” or “Envoy Medical”), a hearing health company, announced today the completion of their previously announced business combination (“the Business Combination”), resulting in Envoy becoming a publicly listed company. The combined company will operate under the name “Envoy Medical, Inc.” and its Class A common stock and warrants are expected to commence trading on October 2, 2023, on the Nasdaq stock exchange under the new ticker symbols “COCH” and “COCHW”, respectively.
“Millions of people have significant hearing loss that may not be adequately treated by hearing aids, a market that we believe will continue to expand as the population ages. We believe that many prospective patients do not seek cochlear implants because they are not satisfied with the currently available options for treatment. In the coming quarters, we anticipate being able to report key milestones in our ongoing clinical trial at the Mayo Clinic and our planned pivotal trial at several of premier cochlear implant centers in the United States,” said Brent Lucas, Chief Executive Officer of Envoy Medical. “We believe that achieving a fully implanted cochlear implant – enabling people to not recharge or change their battery daily or have to worry about external components on their head, among many other potential benefits – will encourage more people with clinically indicated hearing loss to get a cochlear implant and improve their quality of life.”
“Anzu believes that Envoy is a leading innovator in an attractive industry with strong growth prospects, competing in a market estimated at over $80 billion in untapped potential opportunity in the United States,” said Whitney Haring-Smith, Chief Executive Officer at Anzu Special Acquisition Corp I. “We believe that Envoy Medical’s Acclaim device may be the first fully implanted cochlear implant commercialized in the United States and is designed to have longer expected battery life than existing competitors.”
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Source: BioSpace