Fitabeo Therapeutics has ‘spun-out’ from the University of Strathclyde with plans to address some of society’s most pressing healthcare challenges within chronic pain and women’s health.
The company also announced the appointment of pharmaceutical executive Jodi Devlin as Chair of the Board.
The Edinburgh-based clinical-stage specialty pharmaceutical company develops and commercialises innovative medicines focusing on indications where existing treatments are inadequate for the target population to provide better health outcomes.
Mallikarjun Chityala, Fitabeo Founder and CEO said: “We are excited about the opportunity to deploy breakthrough innovation to address some of society’s most pressing challenges and improve access to medicines across all age groups.
“Fitabeo Therapeutics’ portfolio will play a significant role in reducing the treatment burden by enhancing patient autonomy and medication adherence.
“We are grateful to have received phenomenal support from the Scottish entrepreneurial ecosystem. We are also pleased to have Jodi Devlin joining our board as Chair. Jodi brings a wealth of experience in pharmaceuticals and a broad industry network that will enhance the evolution of Fitabeo Therapeutics and help accelerate the development and commercialisation of assets working closely with the board.”
The University of Strathclyde spin-out company, has been supported by Strathclyde Inspire, the University’s entrepreneurship initiative.
Dr Olga Kozlova, Director of Innovation and Industry Engagement at the University said: “We are proud to have supported Fitabeo Therapeutics from the outset. It’s a great demonstration of how academic research can be translated into innovation with the potential to have a real global impact on people’s health and wellbeing.”
Scottish Enterprise also supported the company via its High Growth Spin-out Programme, which helps university teams turn their innovative ideas into commercially successful high-growth businesses.
Leah Pape, Head of High Growth Services at Scottish Enterprise, said: “Sadly, chronic pain and women’s health represent great areas of medical need, but with our support, Fitabeo is developing solutions to address the challenge of delivering improved quality of life for patients as well as showcasing Scottish innovation on the global stage.”