Pivot Pharmaceuticals has announced that the company signed an option agreement with IP Med Inc. for an exclusive worldwide license for use of TriVair nasal and pulmonary breath-propelled devices for delivery of dry powder cannabinoid formulations.
Pivot will have 6 months to evaluate the use of the device for delivery of its Ready-To-Infuse-Cannabis (“RTIC”) to decide whether to enter into a definitive licensing agreement.
According to a 2016 Acerus financial statement, the company signed an intellectual property and development agreement regarding TriVair with IP Med in October 2015. Under the terms of that deal Acerus ” is entitled to certain milestone and royalty payments upon the achievement of certain regulatory, clinical and commercial events,” the document says.
The TriVair range of unit dose disposable devices includes a nasal device that uses the patient’s breath to aerosolize a powder and deliver the drug into the nasal cavity, a pulmonary delivery device, and a combination nasal/pulmonary device.
IP Med VP, Ben Isaacs said, “I am excited to partner with the team at Pivot Pharmaceuticals. With their product development and commercialization experience, and impressive RTIC powdered cannabis technology I am confident that the TriVair device will provide a safe and effective way for the delivery of cannabinoids into patients.”
Pivot Executive VP, Product Development, Joseph Borovsky commented, “We are very pleased to add the TriVair device to Pivot’s product line and expand the range of delivery systems for cannabinoids. This pre-loaded and single-use device, will be a disruptive technology and provide solutions for patients with special medical needs.”
Pivot Chief Medical Officer Wolfgang Renz said, “Pivot continues to grow its portfolio of patented technologies specifically for the formulation and delivery of cannabinoids. We are very excited about the unique opportunity this differentiated product presents for patients seeking an alternative method to traditional cannabis practices. Upon the completion of our compatibility testing, Pivot will have the world’s first nasal and pulmonary powdered cannabis device for quick onset and use in the medical field. This combination product may be well suited for managing such indications as sleep disorder, migraine, late-stage cancer pain, and address opioid withdrawal.”
Read the Pivot Pharmaceuticals press release.
