Shark Tank Billionaire Mark Cuban To Invest In Perlara Leigh Syndrome Project
A Twitter exchange contributed to Mark Cuban’s fund, Radical Investments, placing $250,000 into Perlara’s $7.4 million fundraising round this past year. In the latest announcement, Shark Tank Billionaire Mark Cuban is investing again in a novel project of Perlstein Lab PBC called “PerlQuest” to find remedies for an extremely rare disease named Leigh syndrome.
Leigh syndrome is commonly found in babies and causes respiratory failure and death. “Potentially saving lives is appealing to me personally,” Cuban told CNBC in an e-mail. He declined to offer the size of this investment, but Perlstein stated a program requires funding of between $250,000 and $750,000.
“Rare/orphan diseases, by definition, have devastating consequences for the families affected,” he explained. Last year Perlstein and Cuban came above a Twitter debate about drug pricing. Perlara calls itself a public advantage company, a business that counts doing good for society among its goals. For Perlstein, that means integrating patients in the company in a manner that is more direct, and taking another approach to pricing possible medicines.”We staked our entire brand on wanting to make a down dent on drug pricing,” he explained.
Perlara a way’s away from pricing a drug: it plans to begin human testing of its first two projects a year ago, for genetic diseases and NGLY1 Deficiency. Just about 800 individuals have been diagnosed worldwide using the latter. It is aiming to handle both of those through “PerlQuests” too, a system Perlara created to work with families or patient groups that are looking to invest in research.
“Right now we are living in a world in which those households are advised if you just raise a couple million bucks for gene therapy, that is your panacea,” Perlstein said, referring to technology that provides a health replica of a gene to make up for one which causes disease. Perlara intends to locate more high-value solutions in a lower price by making disease models in yeast, flies, rats or fish screening compounds that are existing to see whether there may be action.”To get a tenth of the price tag, we are building animal models and finding repurposing chances,” Perlstein explained.
The goal is a cure, but a therapy that may help cure the disease for the decades it may take to develop one. That is the focus of Cuban’s investment to produce treatments for Leigh syndrome. He said by e-mail, he does anticipate a return on his investment,”but we aren’t seeking to maximize ROI. We are wanting to maximize health and wellness.”He also noted a powerful treatment for the disease may also hold implications for”aging, sports medicine, traumatic brain injury, neurodegeneration and other indications.”As for drug pricing?
Cuban’s still curious into significantly lower the pricing of all orphan drugs we invest in. Thus far, Perlara is the investment in development or drug discovery, he explained. His take on the industry’s pricing practices more widely is blunt: the”cost of drugs,” he said,”is too high.”
About Perlara, PBC
Perlara, PBC is the Public Benefit Corporation working on precision drug discovery for disorders that are rare. Founded in the year 2014 by Ethan Oren Perlstein & Henry Perlstein Perlara has a total funding of over $12 Million as of now, and is working on over 5000+ rare genetic diseases.