NextWave Pharmaceuticals and Tris Pharma Enter into CNS-focused Development and Commercialization Agreement
CUPERTINO, Calif. and MONMOUTH JUNCTION, N.J., Aug. 12 /PRNewswire/ -- NextWave Pharmaceuticals and Tris Pharma, both privately held companies, announced a new collaboration agreement to enhance NextWave's CNS product portfolio utilizing Tris Pharma's unique drug delivery technology for liquid and solid formulations. Tris has reacquired the rights to non CNS products including all the OTC products previously licensed to NextWave Pharmaceuticals.
NextWave will commercialize NexiclonTMXR (clonidine) Extended-Release Tablets and Suspension, which is the first ever 24-hour liquid extended release product approved by the FDA. NexiclonXR has been cleared for marketing by the US FDA and will be introduced to wholesalers and pharmacies by NextWave in the second half of 2010. NextWave and Tris will also collaborate on the development of three additional CNS products, with an option to expand development to additional products. All products under the agreement incorporate Tris' OralXR+ technology for delivery of suspension or solid dosage forms, which provides up to a 24-hour delivery profile in taste-neutral formulations.
"Long acting products that do not require swallowing remains an unmet need of the industry. With our products, we intend to focus on this unique opportunity. We are excited to work with Tris to bring these unique and important products to patients, especially the pediatric, adolescent, and adult populations," stated Jay Shepard, Chairman and CEO of NextWave. "Given our experience in this marketplace and the convenience and clinical benefits provided by this technology, we are convinced these products will make a significant impact on the lives of patients and caregivers."
"The CNS market, especially pediatric CNS, is an ideal application of the OralXR+ platform. In the current paradigm parents need to persuade young children to swallow extended release pills, OralXR+ suspensions, chewable tablets and ODT's are child-friendly and long acting," commented Ketan Mehta, CEO of Tris Pharma. "The team at Tris has worked diligently in developing this important advance for physicians and patients. We are fortunate to work with a number of outstanding commercialization partners and appreciate the CNS expertise NextWave brings to these important therapies."
NextWave is an emerging CNS-focused specialty pharmaceutical company that develops and commercializes unique products utilizing proprietary drug delivery technology to address unmet needs in key therapeutic areas - with particular emphasis on the treatment of ADHD and related disorders. NextWave's investors include Sofinnova Ventures, Vivo Ventures, Aisling Capital, and Fidelity Biosciences. More information on NextWave can be found at www.nextwavepharma.com .
Tris Pharma is a specialty pharmaceutical company focused on the research and development of drug delivery technologies based products. Through its OralXR+ platform, Tris has pioneered the delivery of sustained release in the liquid, chewable/ODT and strip dosage forms so patients do not have to swallow a pill. Tris' Nobuse platform provides abuse-deterrence for opioids and other abuse-prone drugs. Tris' R&D and manufacturing facilities are located in Monmouth Junction, New Jersey.
For more information visit www.trispharma.com.