St. Paul-based CNS Therapeutics announced on Tuesday that the FDA approved its drug to treat severe spasticity.
The drug, called Gablofen, is administered through a drug pump and is the generic version of healthcare company Novartis' Lioresal Intrathecal used to treat the disorder. CNS Therapeutics CEO John Foster said a year's supply of Lioresal sells for about $3,000 a year and Gablofen's first product will likely sell for 10 to 15 percent less.
Novartis declined comment, saying it does not discuss products from its competitors.
CNS Therapeutics has 20 employees and has raised $15 million in venture capital. The company has received funding from Thomas, McNerney and Partners and InterWest Partners.
CNS Therapeutics is developing drugs for intrathecal drug pumps, a medical device that allows patients to receive drugs directly to their spinal cord. There are about 150,000 U.S. patients with intrathecal drug pumps, the company said.
"This market has significant growth potential and is ready for improved pharmaceuticals," said Pratik Shah, a partner with Thomas, McNerney and Partners. Shah said he believes CNS Therapeutics "is currently the only company solely dedicated to the innovation of pharmaceuticals administered in these pumps."
