PharmaTher Inc (CSE: PHRM) this morning announced that it has entered into a sponsored research agreement. The agreement, which was signed with The Queen’s University of Belfast, will see the development of a patented hydrogel-forming microneedle patch for use with ketamine.
More specifically, the microneedle patch is being developed to work with KETABET, PharmaTher’s proprietary formulation for ketamine. The patch is being viewed as a potential next-generation treatment for neuropsychiatric, neurodegenerative and pain disorders, while limiting the potential for abuse and misuse. Microneedle delivery has the potential to overcome drawbacks associated with introvenous or nasal delivery methods.
The research is being led by Professor Ryan Donnelly, whom most recently published a paper on ketamine related to using a microneedle array as a delivery method. The MN tech, as the firm refers to it, is expected to overcome limitations related to drug quantities on the patch, while also improving the quantity of the drug that can permeate into the skin from the patch.
“We believe that ketamine and our proprietary ketamine formulation, KETABET, delivered in the patented microneedle patch could potentially change the ways that mental health, neurodegenerative 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 company is currently focused on developing a patch for FDA approval, which ultimately overcomes drawbacks related to other methods of delivery.
PharmaTher last traded at $0.22 on the CSE.
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