Rubric Capital Management

Edesa Biotech is a clinical-stage biotechnology company dedicated to developing innovative treatments for dermatological and anorectal diseases, with a primary focus on inflammatory and immune-related conditions. The company aims to create safe and effective alternatives to topical steroids, which can have undesirable side effects. Its lead product candidate, EB01, is a non-steroidal anti-inflammatory treatment specifically designed for chronic allergic contact dermatitis and has shown statistically significant improvements in clinical studies. Additionally, Edesa Biotech is developing EB05, a monoclonal antibody therapy targeting hospitalized COVID-19 patients. The company is engaged in research and development, manufacturing, and the commercialization of its pharmaceutical products.

Trevi Therapeutics, Inc. is a clinical-stage biopharmaceutical company based in New Haven, Connecticut, established in 2011. The company specializes in the development and commercialization of Haduvio, an oral extended-release formulation of nalbuphine. Haduvio is currently undergoing a Phase IIb/III clinical trial, known as the PRISM trial, aimed at treating chronic pruritus associated with prurigo nodularis. Additionally, Trevi is exploring the use of nalbuphine ER for other serious neurologically mediated conditions, including chronic cough in patients with idiopathic pulmonary fibrosis and levodopa-induced dyskinesia in individuals with Parkinson’s disease. The treatment targets conditions that share a common pathophysiology mediated through opioid receptors in the central and peripheral nervous systems.

Mereo Biopharma, established in London in 2015, specializes in acquiring and advancing late-stage drug candidates from larger pharmaceutical companies. These candidates, often overlooked due to resource constraints, target rare and specialized diseases with significant unmet medical needs. Mereo's strategy involves rapidly progressing these assets through clinical development, either by partnering or divesting them, or directly commercializing them, particularly in orphan disease indications. The company combines operational efficiency with financial resources, leveraging a unique partnership with a leading global CRO, ICON, to conduct comprehensive clinical studies. Mereo's focus is on transforming the lives of patients worldwide by developing innovative medicines that can significantly improve their quality of life.

Heron Therapeutics, Inc. is a biotechnology company based in San Diego, California, that focuses on developing innovative treatments to address unmet medical needs. The company utilizes its proprietary Biochronomer drug delivery technology, which enables sustained release of therapeutic agents over days to weeks with a single administration. Heron's product portfolio includes SUSTOL, an extended-release injection for preventing nausea and vomiting associated with chemotherapy, and CINVANTI, an intravenous formulation for similar indications. Additionally, the company is advancing HTX-011, a dual-acting combination of bupivacaine and meloxicam, currently in Phase III clinical trials for pain management, and HTX-034, aimed at postoperative pain relief. Founded in 1983, Heron Therapeutics was previously known as A.P. Pharma, Inc. before rebranding in 2014.

Karyopharm Therapeutics Inc. is a clinical-stage pharmaceutical company based in Newton, Massachusetts, focused on the discovery and development of innovative drug therapies for cancer and other significant diseases. The company specializes in small molecule selective inhibitors of nuclear export (SINE) compounds, targeting the nuclear export protein exportin 1. Its lead product, XPOVIO, is approved in the U.S. for treating multiple myeloma in various settings. Karyopharm is advancing several clinical trials, including BOSTON and STORM for multiple myeloma, SADAL for diffuse large B-cell lymphoma, and SEAL for liposarcoma. Additionally, it is exploring the treatment of endometrial cancer through the SIENDO trial and glioblastoma multiforme in the KING trial. The company maintains collaborations to facilitate clinical trials and research efforts, including projects related to COVID-19. Karyopharm continues to develop various investigational programs aimed at expanding its therapeutic portfolio.

TherapeuticsMD is a women's healthcare company based in Boca Raton, Florida. It specializes in developing and distributing branded and generic prescription products exclusively for women. The company offers IMVEXXY for treating moderate-to-severe dyspareunia, BIJUVA for managing vasomotor symptoms associated with menopause, and ANNOVERA as a contraceptive vaginal system. TherapeuticsMD also manufactures prenatal vitamins under brands like vitaTrue and BocaGreenMD Prena1. Its pipeline includes transdermal cream and patch product candidates for hormone replacement therapy. The company sells its products to wholesale distributors and retail pharmacy distributors in the United States.