Feb 18, 2014
"We do have more than 15 products that utilize our abuse-deterrent technology on our debt chart. We want to commercialize all of them and we want to do it as quickly as possible.
Technology is there and it is sound. The successful clinical studies bear this out. Commercializing these products just takes money and time, and as usual the more money we have the less time it will take, pretty much as simple as that."
So what are our plans with regard to financing all of this? Well, as Nasrat mentioned in the past, there are ongoing and substantive discussions with multiple companies who have a keen interest in our products and technologies. Generally these types of discussions concern some sort of partnering relationship with the means by which product development activities can be financed.
That is certainly something of interest to Elite but if the other party feels that they are the only source of financing available to us, they will view that as negotiating leverage and that’s something that's clearly not in our best interest.
(Very important part)
Therefore important to have other sources of finance which we produce to either develop the products for ourselves or at a minimum put us in a stronger negotiating position with these potential partners. And in either instance, we expect the result to be a better deal for Elite and our shareholders.
April 14, 2014
Elite Pharmaceuticals, Inc. Secures Funding Commitment of Up to $40 Million From Lincoln Park Capital Fund, LLC
Commenting on the new financing, Elite's President and CEO, Mr. Nasrat Hakim said, "This commitment from Lincoln Park helps Elite to develop our range of abuse resistant opioids on an accelerated pace. By investing in the clinical development of our abuse deterrent products, we expect to significantly increase the value of these products in anticipation of future product partnerships. There is a great interest in our technology and, as Elite has done since I started here last August, we will continue to aggressively scale up and complete the clinical studies necessary to file these products as soon as possible. Our first filing is expected to be by year's end."
