Lobe Sciences, Ltd., a biopharmaceutical company focused on developing products to treat diseases with unmet medical needs, has formed a wholly owned U.S. subsidiary named Alera Pharma, Inc. (Alera).

Alera will be assigned the intellectual property rights focused on the company’s neurological assets and its new chemical entity Psilocin Mucate.

Rick Goulburn has been appointed as the Chief Executive Officer of Alera. Dr. Fred D. Sancilio will be Chairman of its Board of Directors and be joined on the board by Dr. Harry Jacobson, Wesley Ramjeet and Goulburn. Alera will be the operating company within the Lobe Sciences group focused on neurology and will join Altemia, LLC as the second operating subsidiary of Lobe Sciences. It is expected that the Company’s Australian subsidiary, Lobe Sciences Australia Pty Ltd., will become a subsidiary of Alera. Ilan Hayman will become a member of the executive management team of Alera.

Dr. Sancilio, Chairman and CEO of Lobe Sciences said, “At present, Lobe Sciences has a complex corporate structure. By establishing Alera Pharma, we are simplifying the operations of the Company into just three entities. Lobe Sciences, Ltd will provide common services to the two operating subsidiaries - Alera and Altemia, LLC. The creation of two separate operating companies will allow each entity to create value within their respective therapeutic areas; neurology and hematology.”