Flexion Therapeutics

About Flexion Therapeutics

Flexion Therapeutics, a biopharmaceutical firm established in 2007, was co-founded by Michael Clayman and Neil Bodick. The company directs its efforts towards creating and marketing treatments for musculoskeletal conditions, with a particular focus on osteoarthritis. Clayman, who served as the President and CEO, brought extensive experience from his previous role as Vice President and head of a number of therapeutic areas at Eli Lilly and Company. Bodick, who held the position of Chief Scientific Officer, also came from a senior leadership background at Eli Lilly, underscoring the founders' deep roots in pharmaceutical development. The company's flagship product is ZILRETTA (triamcinolone acetonide extended-release injectable suspension), an intra-articular injection for managing osteoarthritis knee pain. ZILRETTA was designed to provide pain relief for over 12 weeks, a significant duration compared to other local therapies. This extended-release formulation represents its core value proposition to patients suffering from chronic knee pain. Flexion's business model revolved around the commercialization of ZILRETTA, generating revenue through its sales. After operating as a publicly traded entity on the Nasdaq stock exchange, Flexion Therapeutics achieved a significant milestone with the U.S. FDA approval of ZILRETTA in 2017. The company's journey culminated in its acquisition by Pacira BioSciences in a transaction valued at approximately $630 million, which was completed in late 2021. This acquisition integrated Flexion's non-opioid pain management solutions into Pacira's portfolio.