Claritas Announces Letter of Intent to Acquire Exclusive Worldwide Rights to Develop R-107 for PAH
Data in Animal Model of PAH Demonstrate Ability of R-107 to Durably Reverse Established Disease
SAN FRANCISCO and TORONTO, April 14, 2021 (GLOBE NEWSWIRE) -- Claritas Pharmaceuticals, Inc. (TSX VENTURE: CLAS and OTC: KALTF) (the "Company" or "Claritas") today
announced that it has entered into a binding Letter of Intent (the “LOI”) with Salzman Group, Inc. (a Delaware corporation), Salzman Group, Ltd. (an Israeli corporation), and
Salzman Group Pty. Ltd. (an Australian corporation), (collectively, the “Salzman Group”), under which Salzman Group will grant to Claritas an exclusive, worldwide
license to develop and commercialize R-107 for the treatment of pulmonary arterial hypertension (“PAH”). The Company expects that definitive agreements will be executed by May 15,
2021. Closing of the transaction is subject to receipt of all regulatory approvals, including approval of the TSX Venture Exchange.
- Claritas is developing R-107 for the treatment of viral infections, and will now also develop R-107 for the treatment of PAH.
- PAH is a lethal condition, resulting from high blood pressure in the lungs.
- The worldwide market for treatment of PAH exceeds $6 billion per year and is projected to grow to $9.8 billion by 2027.
- R-107 is the first and only agent to demonstrate a durable reversal of established disease in a validated animal model of PAH.
Claritas’ development strategy for R-107 in PAH is designed to expedite the potential monetization of this asset.
R-107 is a Nitric Oxide-Releasing Compound
R-107 is a liquid, nitric oxide-releasing compound with issued and pending composition of matter and method of use patents in approximately 40 countries, including the U.S., Australia, Brazil, China, Europe, India, Japan, Russia and South Korea.
Claritas initially licensed R-107 from Salzman Group for the treatment of COVID-19 and other viral infections. Claritas and Salzman Group will now enter into a separate License Agreement under which Salzman Group will grant to Claritas exclusive, worldwide rights to develop R-107 for the treatment of PAH.
Claritas Will Develop R-107 as a Nitric Oxide Therapy for Treatment of Both Viral Infections and PAH
“R-107 is a platform technology that transforms nitric oxide therapy from an impractical, expensive, and difficult to administer inhalation therapy, into a practical treatment that can simply be administered by capsule, injection, or nasal spray,” stated Robert Farrell, Claritas’ President and CEO. “It has been demonstrated that nitric oxide is a potent antiviral therapy, and for this reason, we are already developing R-107 as a nitric oxide therapy for treatment and prevention of coronavirus, vaccine-resistant COVID-19 infection, influenza, and the common cold. It has also been demonstrated that nitric oxide is clinically effective in the treatment of PAH.1 For this reason, we are now acquiring exclusive, worldwide rights to develop R-107 as a nitric oxide therapy for PAH.”