As 2017 comes to a close, it is a great time of year for business to reflect on the achievements and the short comings versus the goals set out at the beginning of the year.
This year has been a landmark year for SOM Biotech, shifting gear from an early stage company to growth phase business. We achieved many milestones throughout the year which gives good reason to congratulate the team. We started the year by defining our purpose and that was to focus on what we are good at and that this discovery and development of orphan drugs for CNS unmet needs.
The year was kick started by the out-licensing of SOM0226 to our US Partner and this validated our repurposing technology and our business model. The second was the completion of the first significant funding round with international angels which enabled us to shift gear from a start-up to growing mode. Both these milestones gave SOM Biotech great visibility in the sector. The company has appeared in several repurposing industry reports and orphan drug periodicals, as well as attended to numerous international events. We know our growing pipeline of orphan assets is attracting attention from all relevant sectors.
Moving forward, the coming year looks promising for SOM Biotech as we begin POC study for SOM3355 in Huntington’s Chorea (after reaching an agreement with our Japanese partner) and begin the consultations to develop the strategy for SOM1201 for ALD (Adrenoleukodystrophy), our third asset which could prove to be “the jewel in the crown”.
This year we have witnessed a lot of debate about the orphan drug market, especially in the US as the healthcare system goes again into reconfiguration mode. Some interesting viewpoints have been voiced about the attractiveness of the sector, the future challenges and possible regulatory challenges. What is evident that whichever way the debate goes, SOM Biotech is strategically best positioned to emerge as a winner with its low-cost and low risk development model.
To know more about what value-added companies like SOM Biotech provide to the sector, you can have a look at following article Value added Medicines
In conclusion SOM Biotech is looking forward to starting 2018, which should prove to be another landmark year and shifting to yet another gear.