Transdermal Drug Delivery Billion Dollar Market Rising Expectations in Resurgent Biotech Sector - Seite 3

Nektar Therapeutics (NASDAQ: NKTR) last week announced that the waiting period has expired under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and the previously-announced Strategic Collaboration Agreement between Nektar and Bristol-Myers Squibb Company is now effective.  The global development and commercialization collaboration for Nektar's CD122-biased agonist, NKTR-214, was announced on February 14, 2018. Upon the collaboration agreement becoming effective on April 3, 2018, Bristol-Myers Squibb made a non-refundable upfront cash payment of $1.0 billion to Nektar.  In addition, Bristol-Myers Squibb paid the purchase price of $850 million to Nektar for the sale and issuance by Nektar of 8,284,600 shares of its common stock to Bristol-Myers Squibb pursuant to a share purchase agreement entered into concurrently with the collaboration agreement.

Therapix Biosciences Ltd. (NASDAQ: TRPX) recently announced topline results from its investigator-initiated Phase IIa study at Yale University, suggesting that THX-110 [which is a combination of dronabinol (∆-9-tetrahydracannabinol) and palmitoylethanolamide (PEA)] significantly  improved symptoms over time in adult Subjects with Tourette syndrome. "The successful completion of this study is a key milestone in our clinical development plan of our proprietary drug candidate THX-110 for the treatment of Tourette syndrome for which current available treatments are frequently inadequate or unsafe," said Adi Zuloff-Shani, Ph.D, Chief Technology Officer at Therapix. "Moreover, these results are of particular interest as the pharmacology of THX-110 appears to be distinct from existing medications for TS and may offer a unique option for treating these patients. This study was designed primarily to confirm safety, tolerability and feasibility in this challenging patient population and is encouraging that we obtained positive data that suggests that the combination of dronabinol (∆-9-tetrahydracannabinol) and palmitoylethanolamide (PEA) (THX-110) should be pursued as a treatment for TS patients," continued Dr. Zuloff-Shani.

Mallinckrodt Public Limited Company (NYSE: MNK) announced in March it had closed the sale of RECOTHROM® Thrombin topical (Recombinant) and PREVELEAK® Surgical Sealant to Baxter International Inc. (NYSE: BAX).  "This action further illustrates the strategic evolution of our portfolio, and will free resources for investing in treatments for seriously ill infants and adults," said Mark Trudeau, President and Chief Executive Officer of Mallinckrodt. "We believe these products are an excellent fit for Baxter, and this transaction is the best solution to meet patient needs." The approximately $185 million transaction consists of a base payment of $153 million, inclusive of existing inventory and subject to a closing inventory adjustment, and the remainder in potential future milestones. Baxter will assume other expenses, including contingent liabilities associated with PREVELEAK.