PharmaTher Inc (CSE: PHRM) has entered into an exclusive worldwide license agreement for the development and commercialization of a patented formulation of FDA-approved ketamine and betaine. The product is being viewed as a potential next-generation treatment for neurological and pain disorders as well as mental health.
The arrangement was entered into with the National Health Research Institutes, or NHRI, with the product itself being referred to as KETABET. The formulation reportedly has shown within clinical research to enhance the antidepressant effect, while reducing the negative side effects of ketamine such as hallucinations, memory loss, confusion and abuse liability.
The formulation is delivered to the body via a microneedle patch that enables the distribution of medicine remotely and safely, without the need of being under the supervision of healthcare providers.
Under the arrangement, PharmaTher will look to seek FDA approval for a phase II clinical study. The program will look to target major depressive disorder and those of whom are resistant to available treatments. The company has been granted exclusive worldwide rights to the use of the patent application entitled “Method and composition for decreasing the psychotomimetic side effect and addictive disorder of ketamine.”
Monetary terms of the arrangement were not disclosed, with the company indicating a one-time fee was paid, while future payments are to be based on clinical trial and revenue milestones.
PharmaTher last traded at $0.45 on the CSE.
FULL DISCLOSURE: Pharmather is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Pharmather on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
The post PharmaTher Acquires Exclusive Rights To Patented Ketamine Formulation appeared first on the deep dive.