Pharmather Announces Exclusive License Agreement with the University of Arizona for the Commercialization of Ketamine in the Treatment of Parkinson’s…

October 15, 2020 08:00 ET | Source: Newscope Capital Corporation

TORONTO, Oct. 15, 2020 (GLOBE NEWSWIRE) -- Pharmather Inc., a wholly-owned subsidiary of Newscope Capital Corporation (Pharmather or the Company) (CSE: PHRM) and a specialty life sciences company focused on the research and development of psychedelic pharmaceuticals, is pleased to announce that the Company has entered into an exclusive license agreement with the University of Arizona for the development and commercialization of ketamine in the treatment of Parkinsons disease. Pharmather will seek U.S. Food and Drug Administration (FDA) approval of an investigational new drug (IND) application to conduct a Phase II clinical study this year.

We are very pleased to have an exclusive license agreement in place with the University of Arizona to allow Pharmather to advance the clinical program of ketamine in the treatment of Parkinsons disease, specifically targeting levodopa-induced dyskinesia, a significant clinical unmet need, said Fabio Chianelli, Chief Executive Officer of Pharmather. With promising results in preclinical models and in Parkinsons disease patients, we aim to expeditiously advance the ketamine program in Parkinsons disease to reduce dyskinesia associated with levodopa therapy with plans for expansion to treat depression and pain associated with Parkinsons disease and other motor disorders that are prevalent in Multiple sclerosis, Alzheimers and Huntingtons disease, ultimately creating a unique pharmaceutical-based ketamine franchise.

Promising Results with Ketamine in Parkinsons Disease

Ketamine is an FDA-approved drug with a known safety profile. Prior clinical reports suggest that low-dose ketamine infusions are well tolerated and can improve pain and depression, both often comorbidities in Parkinsons disease patients. Inventors Dr. Scott Sherman and Dr. Torsten Falk, both associate professors at The University of Arizona College of Medicine Tucson, are working with Tech Launch Arizona to patent the results from preclinical data and five case studies in Parkinsons disease patients showing that low-dose sub-anesthetic ketamine infusion indicates tolerability, safety and the potential of long-term therapeutic benefit to reduce Levodopa-induced dyskinesia, improve on time, and reduce depression. (References 1-5)

About Parkinsons Disease

Parkinsons disease is a debilitating disorder that affects over 1 million people in the U.S. and more than 7 million people worldwide. There is currently no cure for Parkinsons disease, although some drug combinations are used to treat the disease symptoms. Levodopa is the gold standard for Parkinsons disease treatment but features significant drawbacks, including the major side effect of dyskinesia and a loss of effectiveness over time. Approximately 50% of patients with PD will develop Levodopa-induced dyskinesia (LID) 4-5 years after the initiation of levodopa therapy, and this number rises to 80% after 10-12 years of levodopa treatment. LID may interfere with motor function, cause or aggravate pain and is known to worsen the quality of life significantly. Individuals with Parkinsons disease may experience a host of non-motor symptoms such as autonomic dysfunction, psychiatric (depression), cognitive and sensory symptoms (pain). Therefore, there is an urgent need for alternative treatments and has been identified by the regulatory authorities, patient advocacy groups such as Michael J. Fox Foundation, and key opinion leaders as a substantial unmet medical need.

About Pharmather Inc.

Pharmather Inc., a wholly-owned subsidiary of Newscope Capital Corporation (CSE: PHRM), is a specialty life sciences company focused on the research and development of psychedelic pharmaceuticals. Pharmather repurposes psychedelic pharmaceuticals, such as ketamine and psilocybin, for FDA approval to treat disorders of the brain and nervous system. Our team includes world-class strategic partners, advisors and a strong leadership team with a proven track record of success in drug development, business development and capital markets. Our goal is to advance the development of panaceAI, our drug repurposing artificial intelligence platform, and advance our clinical product pipeline with ketamine and psilocybin in Parkinsons disease, depression, traumatic brain injury and stroke. For more information, visit http://www.pharmather.com.

For more information, please contact: Fabio Chianelli Chief Executive Officer Pharmather Inc. Tel: 1-888-846-3171 Email: info@pharmather.com Website: http://www.pharmather.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement

This press release contains forward-looking information within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words could, intend, expect, believe, will, projected, estimated and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Companys current belief or assumptions as to the outcome and timing of such future events. Forward-looking information in this press release includes information with respect to the Company will seek U.S. Food and Drug Administration (FDA) approval under an investigational new drug (IND) to conduct a Phase II clinical study this year, plans for expansion to treat depression and pain associated with Parkinsons disease and other motor disorders that are prevalent in Multiple sclerosis, Alzheimers and Huntingtons disease, ultimately creating a unique pharmaceutical-based ketamine franchise, and product developments. Forward-looking information is based on reasonable assumptions that have been made by the Company at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption Risk Factors in Companys managements discussion and analysis for the period of August 30, 2020 (MD&A), dated October 1, 2020, which is available on the Companys profile atwww.sedar.com.

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Pharmather Announces Exclusive License Agreement with the University of Arizona for the Commercialization of Ketamine in the Treatment of Parkinson's...