PreveCeutical Medical Inc (PRVCF)

[lithiumjr]

PreveCeutical Signs Research and Option Agreement with UniQuest Pty Limited for Development of Non-Addictive Analgesic Peptides

https://globenewswire.com/news-release/2018/01/30/1314407/0/en/PreveCeutical-Signs-Research-and-Option-Agreement-with-UniQuest-Pty-Limited-for-Development-of-Non-Addictive-Analgesic-Peptides.html

VANCOUVER, British Columbia, Jan. 30, 2018 (GLOBE NEWSWIRE) -- via NetworkWire -- PreveCeutical Medical Inc. (the “Company” or “PreveCeutical”) (CSE:PREV) (OTCQB:PRVCF) (FSE:18H), announces that, further to its news release dated August 8, 2017, it has entered into a research and option agreement (the “Research Agreement”), with the University of Queensland (“UQ”) and UniQuest Pty Limited (“UniQuest”), UQ’s main commercialisation company. Pursuant to the Research Agreement, the parties intend to conduct a research program (the “Research Program”) which expands the use of their disulfide linker technology and seeks to develop non-addictive analgesics for the treatment of pain, which may offer an alternative to addictive opioids. The opioid epidemic has led to significant numbers of opioid-related deaths and addictions, taxing public health care systems and affecting social and economic welfare.

The multiphase Research Program will involve peptide library synthesis pharmacological evaluation, and acute pharmacokinetic assessment and efficacy determinations in appropriate models of pain and inflammation.

The Research Program

The Research Program has a targeted start date of March 1, 2018, and will be led by UQ researcher and PreveCeutical’s Chief Research Officer, Dr. Harendra Parekh, in collaboration with the UQ School of Pharmacy’s pain and inflammation pharmacology expert, Associate Professor Peter Cabot.

Pursuant to the Research Agreement, PreveCeutical will own all intellectual property developed under the Research Program and will be granted an option to negotiate an exclusive, worldwide licence to UniQuest’s background intellectual property. As consideration for the licence, the Company will pay UniQuest sales-based royalties and certain amounts upon the achievement of predetermined development milestones.