LEO Pharma acquires Timber Pharmaceutical’s bankruptcy assets including TMB-001

Key takeaways:

• LEO Pharma will continue Timber’s TMB-001 project to deliver treatment to patients with congenital ichthyosis.
• All Timber Pharmaceutical employees are being transitioned to LEO Pharma.

Following the bankruptcy of Timber Pharmaceuticals, LEO Pharma has finalized the acquisition of TMB-001 and other assets from Timber, according to a press release.

In November 2023, Timber Pharmaceuticals filed for chapter 11 bankruptcy. Since then, LEO Pharma has acquired the strategic asset TMB-001, an investigational topical reformulation isotretinoin that has received orphan, fast track and breakthrough designation from the FDA.

LEO Pharma intends to continue developing the drug for the treatment of multiple moderate to severe subtypes of congenital ichthyosis, a condition which currently has no approved prescriptions.

All Timber Pharmaceutical employees are set to transition to LEO Pharma’s offices as the TMB-001 project continues.

"We are excited to kick-off 2024 by adding TMB-001 to our pipeline and to welcome the employees of Timber Pharmaceuticals to LEO Pharma,” Christophe Bourdon, CEO of LEO Pharma, said in the release. “The transaction will further strengthen our pipeline with a strategic phase 3 asset that has the potential to be able to help people living with a debilitating disease for which there are currently no proper treatment options."