PharmaTher Inc (CSE: PHRM) this morning announced that it has entered into an exclusive worldwide patent and know-how license agreement with that of the The Queen’s University of Belfast. The arrangement pertains to the development and commercialization of a patented hydrogel-forming microneedle delivery technology.
The acquisition of the tech is expected to support the company’s product and clinical development initiatives with that of ketamine. The patch technology is expected to be used in conjunction with PharmaTher’s KETABET MN patch, which is a formulation that sees the combination of ketamine and betaine.
The use of the microneedle delivery technology will enable patients to dose their medication remotely and safely, without the supervision of a healthcare provider. The patch currently has the potential to enable continuous delivery of the formulation for more than 24 hours, with the tech greatly increasing the amount of drug that can permeate through to the skin from the patch.
With this exclusive license we have created a solid intellectual property foundation and a development and commercialization path for KETABET™ MN patch that could potentially change the way how mental health, neurological and pain disorders are treated. We are pursuing the clinical development of KETABET™ MN patch to overcome the current limitations of ketamine and to unlock the known potential therapeutic value of ketamine as a prescription for regulatory approval worldwide.Fabio Chianelli, CEO of PharmaTher
The arrangement will see PharmaTher granted exclusive worldwide development and commercial rights to an IP portfolio that consists of granted patents in the US, Europe, Japan, India and China and know-how, for use with ketamine, esketamine, betaine and combinations of such drugs.
PharmaTher last traded at $0.39 on the CSE.
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