Shifa Launches with Seed Financing to Address Cardiovascular Disease by Developing Orally Bioavailable Drugs for the Treatment of Dyslipidemia

Collaboration with Xontogeny provides funding and key advisory support for early development

Shifa Biomedical Corporation (Shifa), a drug discovery company developing an oral small molecule PCSK9/low density lipoprotein-cholesterol receptor (LDLR) antagonist, P-21, to treat dyslipidemia, announced their launch with a seed investment from Xontogeny, LLC to advance their lead program through IND-enabling research.

“We are excited to announce our collaboration with Shifa to address the unmet need for oral drugs that can treat dyslipidemia without the need for injections,” said Chris Garabedian, Founder, Chairman and Chief Executive Officer of Xontogeny. “The expertise of our team at Xontogeny complements that of the team at Shifa, and we are aligned on the key milestones we plan to achieve with this seed investment.”

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Dyslipidemia refers to the presence of an abnormal level of lipids, cholesterol and fat, in the blood; such lipid disorders are the major contributor of premature morbidity and mortality from heart disease. Intervention with drugs to reduce LDL-cholesterol (LDL-C) through modulation of the LDLR degradation pathway by inhibiting the critical regulatory protein known as PCSK9 can decrease the risk of subsequent cardiovascular events. Shifa’s lead molecule, P-21, acts as a PCSK9/LDLR-antagonist to modulate the degradation of the LDLR in the liver, thereby regulating cholesterol homeostasis. With no orally bioavailable anti-PCSK9 drug having been FDA approved, P-21 shows promise as a potential new drug to treat hypercholesterolemic patients without the need for injections.

“It is with great enthusiasm that we begin this partnership with the team at Xontogeny to advance our lead compound through preclinical activities and prepare us for IND submission and clinical development,” said Sherin Abdel-Meguid, Founder and President of Shifa. “This seed investment will enable us to rapidly advance our drug product with efficient capital deployment and execute a successful development program. This is especially important in our goal to bring P-21 to patients as a potentially promising non-injectable treatment to address cardiovascular diseases.”

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Having high blood cholesterol raises the risk for heart disease, the leading cause of death, and for stroke, the fifth leading cause of death. High total cholesterol (≥ 240 mg/dL) doubles the risk of heart disease, including heart attack. Plaques formed by cholesterol buildup can restrict blood flow to the brain and can cause a stroke. Intervention with drugs to reduce LDL-C has proven to decrease the risk of subsequent cardiovascular events, including mortality. However, a significant number of patients are either unresponsive or experience concerning side effects with current treatment options.

In addition to Sherin Abdel-Meguid as President, the Shifa management team includes Nabil Elshourbagy and Harold Meyers as Vice Presidents. The Board of Directors will be comprised of Chris Garabedian, CEO of Xontogeny, Gianna Hoffman-Luca, Senior Associate at Xontogeny, Shaker Mousa, Professor and Chairman at Albany College of Pharmacy and Health Sciences, and Sherin Abdel-Meguid, President of Shifa.

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