PLx Pharma

PLx Pharma Inc. was a specialty pharmaceutical company established in 2002 by founder Ron Zimmerman. The firm centered its operations on its proprietary PLxGuard™ drug delivery platform, which was designed to modify the release of active pharmaceutical ingredients to specific parts of the gastrointestinal tract. This technology aimed to enhance the absorption of certain drugs while mitigating common gastrointestinal side effects, such as ulcers and bleeding.

A significant milestone in the company's history was the merger with Dipexium Pharmaceuticals in April 2017. Following this all-stock transaction, Dipexium was renamed PLx Pharma Inc., and the combined entity continued under the leadership of the PLx management team, with Natasha Giordano as President and CEO. This merger was a strategic move to pool resources for the commercialization of its lead product.

The company's flagship product was VAZALORE, an FDA-approved, liquid-filled aspirin capsule available in 81 mg and 325 mg doses. VAZALORE utilized the PLxGuard platform to limit the aspirin's direct contact with the stomach, offering a therapeutic option for patients requiring aspirin therapy, particularly for the secondary prevention of cardiovascular events like heart attacks and strokes. The business model involved bringing this over-the-counter product to market through major retail channels, including drugstores, mass merchandisers, and e-commerce platforms, targeting the large population of patients on physician-recommended aspirin regimens.

In March 2021, the company received FDA approval for supplemental new drug applications for both dosages of VAZALORE, marking a crucial step towards its U.S. commercial launch later that year. However, despite achieving widespread distribution in over 30,000 retail stores, the company faced significant financial challenges. In April 2023, PLx Pharma announced its intention to file for bankruptcy and entered into a stalking horse asset purchase agreement with Greenwood Brands LLC to sell its assets, including the PLxGuard platform and the VAZALORE brand. The company, renamed PLx Pharma Winddown Corp., officially went out of business, with its plan of liquidation becoming effective on September 29, 2023.

Keywords: drug delivery, PLxGuard, VAZALORE, aspirin therapy, cardiovascular disease, specialty pharmaceutical, gastrointestinal safety, over-the-counter, liquidation, asset sale