- Claritas Pharmaceuticals (CLAS) has signed a letter of intent (LOI) with the Salzman Group of companies
- Claritas will have an exclusive license to develop and commercialize R-107 for the treatment of pulmonary arterial hypertension (PAH)
- The company expects definitive agreements to be executed by May 15, 2021.
- The R-107 treatment is the first and only agent to demonstrate a durable reversal of established disease in a validated animal model of PAH
- Claritas is up 10 per cent on the day, with shares trading at C$0.055 at 2:28 pm ET
Claritas Pharmaceuticals (CLAS) has signed a letter of intent (LOI) with the Salzman Group of companies.
The agreement awards Claritas an exclusive, worldwide license to develop and commercialize R-107 for the treatment of pulmonary arterial hypertension (PAH).
The company expects that definitive agreements will be executed by May 15, 2021.
Claritas is developing R-107 for the treatment of viral infections, and will now also develop R-107 for the treatment of PAH.
Pulmonary arterial hypertension is a lethal condition, resulting from high blood pressure in the lungs.
The worldwide market for treatment of PAH exceeds US$6 billion per year and is projected to grow to $9.8 billion by 2027.
The R-107 treatment is the first and only agent to demonstrate a durable reversal of established disease in a validated animal model of PAH.
Claritas’ development strategy for R-107 in PAH is designed to expedite the potential monetization of the asset.
R-107 is a liquid, nitric oxide-releasing compound with an issued and pending composition of matter and method of use patents in approximately 40 countries, including the U.S., Australia, Brazil, China, Europe, India, Japan, Russia and South Korea.
“R-107 is a platform technology that transforms nitric oxide therapy from an impractical, expensive, and difficult to administer inhalation therapy, into a practical treatment that can simply be administered by capsule, injection, or nasal spray. It has been demonstrated that nitric oxide is a potent antiviral therapy, and for this reason, we are already developing R-107 as a nitric oxide therapy for treatment and prevention of coronavirus, vaccine-resistant COVID-19 infection, influenza, and the common cold. It has also been demonstrated that nitric oxide is clinically effective in the treatment of PAH,” said Claritas President and CEO Robert Farrell.
Claritas is up 10 per cent on the day, with shares trading at C$0.055 at 2:28 pm ET.
