Adare acquires Egalet’s proprietary “Parvulet™” technology platform
Princeton, NJ & Wayne, PA – April 15, 2019
Adare Pharmaceuticals, Inc. today announced that it has entered into an agreement with Egalet Corporation (OTCQX: ZCOR), to acquire global rights of the “ParvuletTM” technology platform and its associated Intellectual Property. The technology is protected by several patents granted in the United States, Canada and Europe with patent life ranging from five to 10 years.
Using commonly used pharmaceutical excipients, the technology enables single-dose formulation of taste-masked, easy-to-swallow oral medications with a soft food like texture for pediatric and geriatric populations (including those with dysphagia). One of the unique features of the technology is its ability to enable high dose regimens that may not be feasible by other means. Parvulet technology will be complementary to the existing proprietary technologies owned by Adare Pharmaceuticals, allowing the company to expand its product development capabilities.
“We are excited to bring this new technology into our portfolio of proven product development technology platforms,” commented Ajay Damani, Vice President, Pharmaceutical Technologies at Adare. “It demonstrates our commitment to advancing novel technologies for improved drug delivery mechanisms and better healthcare solutions for patients.”
Under the agreement, Egalet will transfer the Intellectual Property and know-how to Adare Pharmaceuticals, effective immediately. Details of the agreement terms were not disclosed.
“Given our focus on our seven commercial products, we are pleased to have signed this agreement enabling Adare to leverage the Parvulet technology to develop new products,” said Mark Strobeck, Egalet Chief Operating Officer.
To find out more about the technology and how Adare can partner with you, please send requests to “BusDev@adarepharma.com”
Egalet, a commercial-stage pharmaceutical company, is focused on marketing treatments for different types of pain and inflammation. Given the need for various types of pain products and the ongoing issue of prescription opioid abuse, Egalet is focused on bringing non-narcotic products and abuse-discouraging formulations of opioids to individuals in pain and the healthcare providers who care for them. Egalet markets six products: SPRIX® (ketorolac tromethamine) Nasal Spray, ZORVOLEX® (diclofenac), VIVLODEX® (meloxicam), TIVORBEX® (indomethacin), , INDOCIN® (indomethacin) suppositories, INDOCIN oral suspension capsules and OXAYDO® (oxycodone HCI, USP) tablets for oral use only —CII.
For full prescribing information, boxed warnings and medication guides, please visit the following sites for each product: sprix.com, vivlodex.com, zorvolex.com, tivorbex.com, and oxaydo.com. Prescribing information, the boxed warning and medication guide for INDOCIN oral suspension and suppositories, can be found at dailymed.nlm.nih.gov.
About Adare Pharmaceuticals
Adare Pharmaceuticals provides enhanced medicines, creating new possibilities for improved patient health. For decades, the company has solved complex formulation, manufacturing and commercialization challenges, resulting in transformational medicines that deliver value to all its stakeholders. Adare Pharmaceuticals has a global presence with R&D, manufacturing and commercial operations in the Unites States, Europe and Canada. For more information, visit “www.adarepharma.com”
Stacy McDonald-Mickey on behalf of Adare Pharmaceuticals, Inc.