MAST THERAPEUTICS ANNOUNCES AGREEMENT WITH PHILIPS FOR SUPPLY OF ADAPTIVE AEROSOL DELIVERY SYSTEM FOR AIR001
Agreement Covers Ongoing and Future Clinical Studies of AIR001
SAN DIEGO, Oct. 17, 2016 /PRNewswire/ -- Mast Therapeutics, Inc. (NYSE MKT: MSTX) today announced that its wholly-owned subsidiary, Aires Pharmaceuticals, Inc., has entered into a collaborative agreement with Philips Respironics, Inc., the sleep and respiratory care business of Royal Philips (NYSE: PHG, AEX: PHIA) related to the supply of Philips' I-neb® Adaptive Aersol Delivery (AAD™) devices and related consumables for the nebulized delivery of the Company's lead product candidate, AIR001, a sodium nitrite solution for intermittent inhalation. The I-neb® handheld AAD™ system is a small, portable and virtually silent vibrating mesh technology nebulizer system designed to deliver more precise, reproducible doses of medication faster than conventional jet or ultrasonic nebulizers.
"As we announced last month, we are accelerating activities related to our AIR001 program with support for ongoing, investigator-sponsored Phase 2 clinical studies of AIR001 being conducted at three separate prestigious research institutions," said Brian M. Culley, Chief Executive Officer of Mast. "As part of this commitment, we are pleased to be working with Philips, a recognized global leader in the development of aerosol delivery devices and a leading provider of innovative solutions for the global respiratory market. Our agreement has been extended to include not only two of the Phase 2 studies of AIR001 currently underway, but also future clinical studies and will remain in place until 2020 or sooner, if replaced with a commercial supply agreement."
