PreveCeutical to Explore Partnerships with Pharmaceutical and Biotechnology Companies for the Co-Development of its Sol-Gel System
Tuesday, January 29th, 2019, Vancouver, British Columbia: PreveCeutical Medical Inc. (the “Company” or “PreveCeutical”)(CSE: PREV, OTCQB: PRVCF, FSE: 18H), announces that it plans to commence exploratory discussions with pharmaceutical and biotechnology companies developing therapies for neurological disorders, that are seeking a targeted nose-to-brain drug delivery system in connection with same, with the intention of forming a partnership for the co-development of the Company’s soluble gel (“Sol-gel”) system.
The Company has previously demonstrated effective delivery and retention of its Sol-gels to the olfactory epithelium in an adult human nasal cast using its custom applicator device (the “Sol-gel Applicator”) (see news release dated November 19, 2018). PreveCeutical now believes that this system may be of value to companies interested in delivering pharmaceuticals to the central nervous system (CNS).
PreveCeutical believes that the pharmaceutical industry faces significant challenges in delivering drugs to the brain, and that this can be a major obstacle in successfully developing effective treatments for neurological disorders. Starting a dialogue with potential partners will assist PreveCeutical in gauging the potential value of its nose-to-brain delivery approach, and in assessing whether partnership opportunities exist.
PreveCeutical’s Chief Science Officer, Dr. Mak Jawadekar, will be responsible for leading discussions with external partners for the co-development of this system. Dr. Jawadekar has 28 years of experience working at Pfizer Inc. For many of these years he was involved in external Drug Delivery Technology Assessment function involving novel applicable technologies, which are patent protected. Further, he has extensive experience in creating and cultivating external partnerships and alliances for such technologies. Dr. Jawadekar began his professional career at Pfizer Central Research in early 1982, after having completed his Ph.D. in Pharmaceutics at the University of Minnesota.
“Sol-gel technology has certainly shown significant promise in laboratory testing at this point. Eventually, I would like to see this proprietary technology be successfully applied to a drug which could be targeted for CNS delivery. At the right time, we would welcome an opportunity to work with a pharmaceutical or biotechnology company to co-develop the Sol-gel and Sol-gel Applicator to be used in pharmaceutical and therapeutic products,” stated PreveCeutical’s Chief Science Officer, Dr. Mak Jawadekar.
“I am quite excited about this initiative. PreveCeutical started to work on the Sol-gel program over 22 months ago. By now, achieving primary proof of concept (POC) goals are on target to be met and preliminary results observed to date seem to exceed our expectations. PreveCeutical looks forward to opening new doors to work on co-developing the Sol-gel platform. Under the direction of Dr. Jawadekar, I am extremely confident of the possibilities,” said PreveCeutical’s Chairman, CEO and President, Stephen Van Deventer.
