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Flex Pharma

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Flex Pharma, Inc develops clinically proven products and treatments for muscle cramps and spasms

Boston, United StatesFounded 2014Biotech & Life Sciences

Revenue $1–10M Latest reported FY

Headcount <100 Current team size

Total funding $10–50M Disclosed equity funding

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About Flex Pharma

Flex Pharma, Inc. was a biopharmaceutical firm established in February 2014, with a focus on creating treatments for neuromuscular disorders, particularly muscle cramps and spasms. The company was founded by a distinguished team including Nobel Laureate Dr. Roderick MacKinnon, Dr. Bruce Bean, and serial biotechnology entrepreneur Dr. Christoph Westphal. Dr. MacKinnon's Nobel Prize-winning research on ion channel activation formed the scientific basis for the company's approach. Dr. Bean, a professor at Harvard Medical School, contributed his extensive knowledge of ion signaling in neurobiology. Dr. Westphal, who served as CEO, brought significant experience from co-founding several other successful biotech companies.

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The company's core strategy was based on the discovery that muscle cramps are not primarily caused by issues within the muscle itself, but by the excessive firing of motor neurons in the spinal cord. Its lead drug candidate, FLX-787, was a chemically synthesized molecule designed to activate specific ion channels (TRPV1 and TRPA1) in sensory neurons. This activation, described as chemical neurostimulation, was intended to send signals that would inhibit the hyperexcitability of motor neurons, thereby preventing or reducing the frequency and severity of muscle cramps. The company operated through two segments: Drug Development, focused on the clinical progression of candidates like FLX-787, and Consumer Operations, which included a beverage called HOTSHOT aimed at preventing and treating exercise-associated muscle cramps.

Flex Pharma achieved several milestones, including an initial public offering on the NASDAQ exchange under the ticker "FLKS". The company raised significant capital, including a $40 million Series B round in September 2014, from a syndicate of prominent investors. However, the company faced significant setbacks in its clinical trials. In June 2018, Flex Pharma announced the termination of two Phase 2 trials for FLX-787 in patients with ALS and Charcot-Marie-Tooth disease due to oral tolerability issues with the treatment. This led to a major corporate restructuring, including a 60% reduction in its workforce, as the board began to explore strategic alternatives such as a sale or merger.

Ultimately, this process culminated in a merger agreement with Salarius Pharmaceuticals, LLC, a clinical-stage oncology company, announced in January 2019. The reverse merger was completed on July 19, 2019, at which point Flex Pharma was renamed Salarius Pharmaceuticals, Inc., and its stock began trading under the new ticker "SLRX". The newly combined entity shifted its focus entirely to Salarius's oncology pipeline, marking the end of Flex Pharma's operations as an independent entity focused on neuromuscular disorders.

Source: Dealroom company data