60 Degrees Pharmaceuticals has entered into an exclusive option agreement with the Florida State University Research Foundation covering intellectual property related to the development of Castanospermine for multiple tick-borne diseases. The agreement gives the company an exclusive option to negotiate an exclusive U.S. license for the patented technology and know-how, expanding collaboration with Florida State University to evaluate Castanospermine for Powassan virus disease, tick-borne encephalitis, alpha-gal syndrome, and post-treatment Lyme disease. Castanospermine is a naturally occurring iminosugar found in Australian chestnut that has demonstrated broad antiviral and immunomodulatory activity in preclinical studies, with human safety experience from clinical trials of the pro-drug Celgosivir. CEO Geoff Dow stated the agreement reflects the belief that Castanospermine may have its greatest long-term value as the basis for innovative prescription medicines addressing unmet needs in tick-borne diseases. The company is evaluating multiple regulatory pathways for Castanospermine while prioritizing prescription drug development, and recently engaged with the U.S. Food and Drug Administration regarding a new dietary ingredient notification for Australian Chestnut Extract.
60 Degrees Pharmaceuticals, Inc. Common StockExclusive option to license patented technology for Castanospermine development against multiple tick-borne diseases, expanding pipeline and regulatory engagement.