Pearl was founded in 2006, with a mission to develop differentiated therapeutics for respiratory disease conditions prevalent worldwide, including chronic obstructive pulmonary disease (COPD). The product candidates currently being developed are based on the simple and widely prescribed metered-dose inhaler (MDI) dosage form. Company scientists have invented a novel cosuspension formulation technology for use with MDIs that enables efficient targeting and distribution of drug to the lungs.
Pearl has an experienced team of inhalation product development experts with proven track record in the development and commercialization of innovative respiratory products. Pearl’s lead product candidates are a fixed-dose combination bronchodilator, PT003 (glycopyrronium and formoterol fumarate), and its monotherapy components, PT001 (glycopyrronium) and PT005 (formoterol fumarate) for the treatment of COPD.
In 2007 Pearl began development of its lead product candidates with initial venture funding from 5AM Ventures, Clarus Ventures and New Leaf Ventures, then later from Vatera Healthcare Partners, which joined these three investors in 2010. Together, the four investors backed Pearl with $167.5 million between 2007 and 2013, allowing the company to progress PT003 and its components to the start of Phase 3 in fewer than five years from Pearl’s first clinical trial.
AstraZeneca acquired Pearl in July 2013 to strengthen its respiratory products portfolio. As an AstraZeneca group company, Pearl remains focused on development of PT003, and other unique products, including a triple combination.