Grunenthal Group Acquires Pain Patent Portfolio From Nectid, Inc.

PRINCETON, N.J., March 22, 2011 /PRNewswire/ -- Nectid, Inc. (www.nectid.com) announced today that it has completed the sale of a number of patents and patents-applications to Grunenthal GmbH (www.grunenthal.com), a European specialty pharmaceutical company that is a pioneer in pain drug discovery and research. The patent portfolio includes a number of novel chemical entities from Nectid's Pain Drug Discovery program and two key drug delivery platforms (www.nectid.com/pipeline_newdrug).

Dr. Veena Rao, President and CEO of Nectid, said, "We are very happy with this patent sale transaction with Grunenthal. This is the second patent deal Nectid has completed in the last 12 months and the patents are among the nineteen of our patents that have been acquired by big pharmaceutical companies in the last two years. We have accumulated a portfolio of 110 NCEs for pain and depression and we expect to file an IND for at least one drug candidate within the next 6-9 months."

About Nectid, Inc.

Based in Princeton, New Jersey, Nectid is a privately held drug discovery company with primary focus on developing novel drug delivery products and novel chemical entities for two therapeutic areas that use one or more common biochemical pathways- Pain and Depression. Nectid applies its deep understanding pain receptor science to develop novel drug candidates that target mu-opioid receptor, norepinephrine reuptake and alpha2delta or NMDA pathways. For more information, visit www.nectid.com.

SOURCE Nectid, Inc.

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