Brickell Biotech is shedding its old name to pursue Fresh Tracks, rebranding to represent its potential evolution into a clinical-stage pharmaceutical company.
The Boulder, Colorado-based biotech, which is working to develop new prescription therapeutics for autoimmune, inflammatory and other diseases, will now be known as Fresh Tracks Therapeutics. Alongside the new name, the company has slung on a new logo, website and branding, and will begin trading under the Nasdaq ticker "FRTX" from Sept. 8, according to a company release.
Last fall, the biotech said it expected to ask the FDA in mid-2022 to approve its gel for excessive underarm sweating after reducing sweat production and disease severity in two trials. However, the biotech sold off the sofpironium bromide gel—to Botanix this May for $9 million cash and the potential to make up to $168 million in biobucks.
Over the past year, the company has shifted strategy by acquiring multiple platforms, such as South Korea-based Voronoi's DYRK1A inhibitor platform, as well as the preclinical STING inhibitor FRTX-10 from Carna Biosciences.
“At its core, this rebrand highlights our commitment to shift treatment paradigms by exploring beyond current conventions with targeted, science-driven and potential first-in-class therapies,” Fresh Tracks CEO Robert Brown said.