- PharmaTher has signed an exclusive worldwide license agreement for a patented ketamine formulation
- The life sciences company said the formulation will target mental health, neurological and pain disorders
- PharmaTher entered into an agreement with the National Health Research Institutes for the development and commercialization of a patented combination formulation of FDA-approved ketamine and betaine called KETABET™
- KETABET™ has been shown to enhance antidepressant effects while having the potential to significantly reduce the known negative side effects of ketamine
- PharmaTher closed at C$0.63 per share
PharmaTher (PHRM) has signed an exclusive worldwide license agreement for a patented ketamine formulation.
The life sciences company said the formulation will target mental health, neurological and pain disorders. PharmaTher is a subsidiary of Newscope Capital Corporation.
In a press release, the company said PharmaTher entered into an agreement with the National Health Research Institutes for the development and commercialization of a patented combination formulation of FDA-approved ketamine and betaine called KETABET™.
The National Health Research Institutes is a non-profit foundation established in 1995 by the government of Taiwan.
In clinical research, KETABET™ has been shown to enhance antidepressant effects while having the potential to significantly reduce the known negative side effects of ketamine.
PharmaTher CEO Fabio Chianelli said the company believes KETABET™ has the potential to change the way mental health, neurological and pain disorders are treated.
“We are pursuing the clinical development of KETABET™ to overcome the current limitations of ketamine and to unlock the known potential therapeutic value of ketamine for FDA approval,” Chianelli said.
Through a proprietary microneedle patch, KETABET™ aims to empower patients to dose their medication remotely, safely and conveniently rather than being under supervision by a healthcare provider at a certified medical office.
The KETABET™ MN patch has the potential to incorporate anti-tampering and anti-abuse features because of the combined presence of ketamine and betaine and the delivery format of the product that would parallel the approach used for the tamper-resistant transdermal fentanyl patch.
PharmaTher will seek FDA approval to conduct a Phase II clinical study for KETABET™ targeting the more than 300 million people who suffer from major depressive disorder and 100 million people who are resistant to available treatments worldwide.
Ketamine was approved by the FDA in 1970 and is clinically used for analgesia, sedation, and anesthetic induction.
PharmaTher closed at C$0.63 per share.
