Neuraxpharm Group has joined forces with Pharmathen to co-develop a novel long-acting psychiatric injectable therapeutic.
Together, the companies endeavour to replace the traditional short-acting dosage forms available for psychiatric disorders with longer acting injectables — enhancing the patient centricity of therapeutics available to patients with CNS-related symptoms.
Under the terms of the agreement, Neuraxpharm will hold the exclusive rights to commercialise the injectable in Europe, as well as the other countries that the company operates in.
Pharmathen will attain exclusive rights for the therapeutic in North America and any countries currently out of Neuraxpharm's reach.
The company will provide technology and manufacturing expertise, whereas Neuraxpharm will be responsible for the registering and marketing of products within its reach.
This initiative is part of Pharmathen's long-acting therapeutic technologies (LATT) programme, which aims to provide patients globally with convenient and efficacious treatment options.
According to the company, its LATT initiative will also support the long-term control of symptoms by enhancing patient compliance.
CEO of Neuraxpharm, Dr Jörg-Thomas Dierks, commented: “Today’s announcement reflects our ongoing commitment to bringing innovative solutions to CNS patients in Europe and beyond. These are well established therapies, but we are bringing them to the market in a new format, which will offer patients greater flexibility and control in how they manage what are often challenging conditions.”
Pharmathen Group's CEO, Dimitris Kadis, added: “At Pharmathen, our mission is to improve patients' lives through innovation and quality. This collaboration is an important step toward achieving that goal by enhancing access, convenience, and choice for our patients as we bring our long-acting therapeutic technology products to more prescribers and CNS patients worldwide.”
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