LEO Pharma’s Acquisition of Timber Pharmaceuticals’ Assets Faces Setback Due to Late-Stage Study Failure

LEO Pharma completed the acquisition of assets from Timber Pharmaceuticals, including the TMB-001 project, a topical isotretinoin formulation for treating congenital ichthyosis.
The acquisition, valued at approximately $36 million, was finalized in the fourth quarter of 2023 after Timber Pharmaceuticals filed for Chapter 11 bankruptcy.
TMB-001 has received orphan, fast track, and breakthrough designations from the US FDA and has shown positive Phase 2 results, with Phase 3 recruitment underway in the US and Europe.
Despite the acquisition, LEO Pharma faces a setback due to a late-stage study failure of TMB-001, which could impact its potential to revolutionize the treatment of congenital ichthyosis.