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Knight Therapeutics Inc. and NeurAxon Inc. form Partnership for the Commercialization of NeurAxon's Innovative Products
Friday, January 02, 2015
Knight Therapeutics Inc., a leading Canadian specialty pharmaceutical company, today announced that it has entered into a strategic partnership with NeurAxon Inc. ("NeurAxon") for the commercialization of NeurAxon's innovative products in various stages of development ("Pharmaceuticals") in Canada, Israel, South Africa and Russia ("Territory").
Under this partnership, Knight will pay approximately $1.75 million cash and provide additional funding to further develop the Pharmaceuticals. A new company will be formed called NeurAxon Pharma Inc. ("NeurAxon Pharma") which will own the Pharmaceuticals for all markets except the Territory and will continue the development of the clinical portfolio.
"We are pleased to partner with NeurAxon for the development and commercialization of their portfolio of pre-clinical and clinical products. NeurAxon has shown that their nitric oxide synthase inhibitors ("NOS") are safe and show clinical markers for efficacy in migraine. We believe that NeurAxon's NOS assets will find a profitable niche and we look forward to participating in the growth of NeurAxon Pharma for the benefit of patients and shareholders," stated Jonathan Ross Goodman, President and CEO of Knight.
Dr. John S. Andrews, President of NeurAxon said "We are delighted to be able to secure the opportunity to continue the development of our novel NOS compounds. We have identified a new path forward to commercialization and look forward to working with Knight to ensure the benefits of our technology are brought to the patients in need."
Source : http://www.stockhouse.com/
