Benuvia Operations, LLC and Chromocell Therapeutics Corp. Announce Strategic Partnership to Advance Healthcare Solutions

AUSTIN. Texas, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Benuvia Operations, LLC (“Benuvia”), a leader in pharmaceutical innovation, and Chromocell Therapeutics Corp. (“Chromocell”), (NYSE American: CHRO), a pioneer in the development of non-opioid pain treatment therapeutics, are pleased to announce Chromocell’s first Development and License Agreement (“Agreement”). Under the Agreement, Chromocell licensed sublingual formulation of a Diclofenac spray for the treatment of acute pain, a Rizatriptan intranasal spray formulation and an Ondansetron sublingual spray formulation, diversifying our pipeline of non-opioid pain treatment therapies, while adding therapeutic options for related conditions. This collaboration leverages the unique strengths of both organizations to enhance patient outcomes and address unmet medical needs.

Under the terms of the agreement, Chromocell expects to develop clinical programs of one or more of the licensed products within 18 months. During 2024, Chromocell intends to complete the development and business plans for each of the three compounds with the expectation that development would commence following the completion of the review by the FDA. Benuvia will support these efforts by providing manufacturing and supply services, thereby establishing a synergistic partnership that is expected to accelerate the path to market for innovative therapeutic options.

This strategic alliance underscores both Benuvia and Chromocell’s commitment to advancing healthcare through innovative research, development, and commercialization efforts. It also reflects the shared vision of improving patient care and enhancing quality of life through scientific excellence and innovation.

"We are excited to partner with Chromocell, a company that shares our passion for innovation and our commitment to improving patient outcomes," said Darwin Richardson, CEO of Benuvia Operations LLC. "This partnership will leverage our combined expertise to accelerate the development of potentially groundbreaking therapies, aimed at marking a new era in healthcare solutions."

Frank Knuettel II, CEO of Chromocell Therapeutics Corp., added, "Joining forces with Benuvia represents our first new step forward in our mission to build our portfolio and develop novel therapeutic solutions addressing pain treatment and related conditions with non-addictive drugs. Together, we believe we are poised to make a profound impact on the lives of patients around the world."