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, dedicated to developing and commercializing nalbuphine ER, an oral extended-release formulation. The company is focused on treating serious neurologically mediated conditions, specifically chronic pruritus, chronic cough in patients with idiopathic pulmonary fibrosis, and levodopa-induced dyskinesia in individuals with Parkinson's disease. Trevi is currently conducting a Phase 2b/3 clinical trial, known as the PRISM trial, for nalbuphine ER, targeting severe pruritus associated with prurigo nodularis. The conditions being addressed share similar underlying mechanisms that involve opioid receptors in both the central and peripheral nervous systems. Founded in 2011, Trevi Therapeutics aims to provide innovative treatment options for patients suffering from these challenging health issues.

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 is a biotechnology company dedicated to developing innovative treatments for unmet medical needs, primarily in the area of nausea and pain management. Utilizing its proprietary Biochronomer drug delivery technology, the company provides sustained therapeutic levels of short-acting pharmacological agents with a single administration over several days. Heron's product offerings include SUSTOL, an extended-release injection designed to prevent nausea and vomiting associated with certain chemotherapy regimens, and CINVANTI, an intravenous formulation for managing nausea linked to highly emetogenic chemotherapy. The company is also advancing investigational products such as HTX-011, a dual-acting combination of bupivacaine and meloxicam currently in Phase III trials for pain management, and HTX-034 for postoperative pain. Founded in 1983 and headquartered in San Diego, California, Heron Therapeutics was previously known as A.P. Pharma, Inc. before rebranding in 2014.

Karyopharm Therapeutics Inc., a pharmaceutical company based in Newton, Massachusetts, specializes in the discovery, development, and commercialization of drugs targeting nuclear transport and related pathways for cancer treatment. Its lead product, XPOVIO (selinexor), is an approved therapy for multiple myeloma, both as a standalone treatment and in combination with other drugs. The company's pipeline includes several clinical-stage compounds, such as BOSTON, STORM, STOMP, and SADAL, which are being evaluated in various blood cancers. Additionally, Karyopharm has collaborations with other organizations for COVID-19 and neurological disease research.

TherapeuticsMD is a women's healthcare company based in Boca Raton, Florida, that specializes in developing and commercializing pharmaceutical products aimed at addressing health issues specific to women. The company offers several products, including IMVEXXY, a treatment for moderate-to-severe dyspareunia, and BIJUVA, a bio-identical hormone therapy for managing vasomotor symptoms. Additionally, TherapeuticsMD manufactures ANNOVERA, a contraceptive vaginal ring. Its pipeline includes preclinical projects such as TX-005HR and TX-006HR, which are transdermal creams, and TX-009HR, an oral formulation of progesterone and estradiol. The company also produces branded and generic prescription prenatal vitamins under various brands. TherapeuticsMD is focused on advancing hormone replacement therapies and has received Investigational New Drug acceptance from the U.S. Food and Drug Administration for its development candidates.