FGH Biotech is a drug discovery and development company located in Houston, Texas. The company was founded by Dr. Salih Wakil and a group of leading researchers at Baylor College of Medicine in the fields of lipid metabolism and organic chemical synthesis who have discovered small molecule drug candidates for the treatment of obesity, metabolic syndrome and possibly other conditions such as dyslipidemia, and atherosclerosis.
The lead development candidate (FGH11019) is currently in late stage preclinical development for obesity. Animal studies have shown that sustained oral administration of FGH11019 results in significant weight loss and that the compound is well tolerated. FGH11019 also has a positive effect on lipid and metabolic profiles, a result that reflects the compounds unique mechanism of action.
Drugs that are currently used to treat obesity are not highly efficacious, and they have well known, sometimes severe side effects. We believe that there is a significant opportunity to develop better drugs that can compete favorably within the obesity market. The U.S. market for such drugs was $421M in 2007 and is projected to increase to approximately $4B by 2016. Obesity and related disorders currently account for almost 20% of the total healthcare budget and all indications are that the problem is getting worse as rates of obesity continue to increase every year. As of 2008 more than 180 million people in the US and Europe were clinically obese. We believe that we have targeted one of the key regulatory processes that contributes to fat synthesis, and that compounds such as FGH10019 represent an important step toward the treatment of obesity. However, in order to fully realize the value and potential of our discovery and development capabilities, we seek partners to assist in further development of FGH11019 and related compounds.