60 Degrees Pharmaceuticals Inc. (NASDAQ: SXTP) signed an exclusive patent licensing agreement with Florida State University for non-prescription use of Australian chestnut extract as a botanical supplement, the company announced.

The license allows the pharmaceutical company to begin large-scale extraction of castanospermine from the seeds of Castanospermum australe, commonly known as the Australian Chestnut. Castanospermine serves as the principal component of Australian Chestnut Extract.

The U.S. Food and Drug Administration issued a Non-Notification Letter to 60 Degrees Pharmaceuticals regarding the company's New Dietary Ingredient Notification filing for Australian Chestnut Extract. The company will meet with the FDA on July 1, 2026, to discuss the feedback and clarification requirements for establishing safety information for the proposed dietary supplement use.

Following the meeting, 60 Degrees Pharmaceuticals plans to submit a revised New Dietary Ingredient Notification to the agency.

According to scientific literature cited in the announcement, castanospermine modulates carbohydrate metabolism at low doses, affecting glycogen and glucose levels. In animal studies, higher doses have shown impact on disease outcomes through immunomodulation.

Castanospermum australe grows in Queensland and New South Wales in Australia, as well as Florida, Hawaii, and California. The processed seeds have served as a traditional food source in Australia for thousands of years.

60 Degrees Pharmaceuticals, founded in 2010, focuses on developing medicines for vector-borne diseases. The company received FDA approval for its lead product ARAKODA for malaria prevention in 2018.