NuPathe Inc.
Headquartered in Conshohocken, PA, NuPathe (Nasdaq: PATH) is an emerging biopharmaceutical company focused on innovative neuroscience solutions for diseases of the central nervous system, including neurological and psychiatric disorders. NuPathe’s lead product candidate, NP101, is an active, single-use transdermal sumatriptan patch being developed for the treatment of migraine, and is the first-ever submission to the U.S. Food and Drug Administration (FDA) of a transdermal patch for migraine treatment. The patch is designed to provide migraine patients fast onset and sustained relief of debilitating migraine symptoms including headache pain and migraine-related nausea (MRN). NuPathe has two additional proprietary product candidates: NP201 for the continuous symptomatic treatment of Parkinson’s disease, which the company plans to develop through a partnership; and NP202 for the long-term treatment of schizophrenia and bipolar disorder. www.nupathe.com
Why NuPathe? — Of the 12M patients treated annually for migraines in the U.S., 2.4M are placed on triptan therapy. Approximately 70% of these patients suffer from migraine-related GI disturbances, including nausea and vomiting, which reduces (or even prevents) the effectiveness of an oral tablet. In addition, 30% of patients on triptan therapy experience recurring migraines despite their medication. The lack of adequate therapies addressing these needs has created an opportunity for the SmartRelief™ patch.
Market Opportunity — The current market for triptans in the U.S. is more than $2B, consisting of approximately 20% of the total $10B market for migraine treatments.
Awards — PharmaVoice 100 (2008) and Eastern Technology Council’s “Healthcare Start-up Company” Award Finalist (2008). NuPathe’s Co-Founder and CEO, Jane H. Hollingsworth, received the WIN Iris Newman Award (2008).
Safeguard Board Member — Gary J. Kurtzman, MD
Financial Summary — Safeguard has deployed $18.3 million of capital in NuPathe and owns 18% of its outstanding common shares. Co-investors include SR One, the venture capital arm of GlaxoSmithKlein, manufacturer of sumatriptan, the largest oral medication per market share for migraines; Quaker BioVentures; Battelle Ventures; Bay City Capital/Birchmere Partners; and BioAdvance. NuPathe is traded on the Nasdaq under the ticker symbol PATH.
Initial Capital Deployment — September 2006
Sector — Life Sciences, Specialty Pharmaceuticals
