Our patent on Feldetrex™ lists a potential connection to an ingredient that could not only increase the efficacy of our drug, but could be the basis for an ingredient in an entire series of pain killers globally. This potential ingredient would remove the addictive substance in certain prescription pain killers known as “Opioids”.
• Over 19,000 people died from pain killer addiction last year according to the Centers for Disease Control.
• We have been approached by an outside company in North America to investigate the potential formation of a joint venture to develop this specific new molecule. The proposal would exclude PBI’s other existing and future products and drugs as well as theirs. The specific agreement would pertain only to the new molecule to be developed as well as its derivatives.
• The proposal discussions thus far would place PBI as responsible for development of the technology under the sponsorship of the partner with a yet-to-be-determined university. This agreement would provide much needed R&D capital to PBI and could revolutionize the company. Due to a high degree of interest by the potential partner and the availability of capital, we expect this agreement to progress very rapidly with a goal of having a Letter of Intent signed by May, 2016.BIEI
AI
