Lightlake Therapeutics has agreed to license its intranasal naloxone for opioid overdose reversal to Adapt Pharma for possible development and sales milestones of more than $55 million, plus royalties, the company said. Lightlake recently announced that it started a new trial of the product with funding from the National Institute on Drug Abuse (NIDA).
According to Adapt Pharma’s web site, the company was founded in Dublin, Ireland in November 2013 with the same management team as Azur Pharma, which had merged with Jazz Pharmaceuticals in 2012. The web site does not list any products currently in development.
Adapt Pharma Chairman and CEO Seamus Mulligan said, “We are pleased to partner with Lightlake and add this product to our business. The product is an important therapeutic and will have significant benefits for patients, first responder medical staff and caregivers. We look forward to completing the late stage development and to commercially launching the product.”
Lightlake CEO Roger Crystal commented, “Our entering into an agreement with a subsidiary of Adapt Pharma is a transformative event for Lightlake. Adapt Pharma is a tremendous development and commercialization partner for Lightlake. Adapt Pharma has a highly experienced and proven management team, significant financial resources, and strong capabilities to address a significant public health risk.”
Read the Lightlake press release.
