Company Profile

Rimon’s mission is to develop novel wound healing, cardiovascular, and cosmetic products, as well as enhance the value of numerous existing medical devices, with a portfolio of “drug-like” medical polymers that can be developed and marketed within medical device timelines.

With its original round of financing, Rimon Therapeutics Ltd. developed a robust pipeline that is ready for clinic trial and a strong technology platform for commercialization and growth. The Company plans to complete its first clinical trial, broaden its product pipeline, and develop its first corporate partnership with the proceeds from a recent private placement.

The combination of drug-like margins, device timelines, and the versatility of polymer chemistry represents an extraordinary business opportunity – one that has been validated significantly during the past year. The US Food and Drug Administration designated Rimon’s lead “drug-like” chronic wound dressing as a medical device. In addition, the Company has successfully engaged a number of large medical device companies that are interested in Rimon’s technologies for a variety of applications.

Underlying Rimon’s unique business proposition is its exclusive development of Theramers™ - synthetic polymers that combine bioactivity with a broad range of mechanical and physical properties. Rimon is commercializing a growing portfolio of Theramers™, including:

• Angiogenic Theramer™ - induces new blood vessel development, or angiogenesis
• MI Theramer™ - reduces the activity of matrix metalloproteases (MMPs), which degrade tissue
• AM Theramer™ - destroys gram +ve and –ve bacteria

In addition, Rimon is commercializing ThermaGel™, a polymer that changes from a low-viscosity liquid to a soft hydrogel around body temperature. To further enhance the applicability of its polymers, Rimon is developing both non-degradable and degradable versions of its biomaterials.

Rimon’s advanced medical polymers have broad therapeutic, surgical, and cosmetic applications, providing a range of near- to long-term revenue opportunities. The Company’s lead product - MI-Gel™ Dressing - is a novel Class I/II medical device, used for treating chronic, difficult-to-heal skin wounds such as diabetic ulcers or bed sores. Chronic wound healing represents a $2-3 billion market that is growing at 20% per year. Applied as a liquid that quickly conforms and gels to the shape and size of a wound, Rimon’s unique dressing physically binds, and thus inactivates, the destructive enzymes (MMPs) that impair wound healing. When treatment is finished, or the dressing must be changed, it can be re-liquefied by washing with cool saline. This allows the dressing to be removed as a liquid without re-injuring the fragile new skin.

The commercialization of Rimon’s MI-Gel™ Dressing and the interest of potential strategic partners are being leveraged into additional therapeutic products. Rimon’s Angiogenic Theramer™ in the form of beads (Angiobeads™) has been validated extensively with pre-clinical animal and safety studies for wound healing applications. Other examples of products in the pipeline include a coronary stent coating, injectable beads to treat joint disease such as osteoarthritis, an anti-microbial coating for medical devices including in-dwelling catheters, and a synthetic wrinkle filler. Each of these applications represents a substantial market with significant unmet needs.

From: http://www.biofinance.ca/RimonTherapeutics