PEI’s Delivra Corp. has announced that it has entered into a technology licensing agreement with Kalytera Therapeutics, Inc., a California-based pharmaceutical company developing a portfolio of non-psychoactive cannabinoid and endocannabinoid-like medicines that it believes will address large unmet market needs.
Kalytera seeks to commercialize its proprietary synthetic cannabinoid therapies across a range of disease states, with an initial focus on bone health.
Delivra is a full member of the PEI BioAlliance’s EmerGence BioScience Business Incubation program.
“Synthetic and natural cannabinoid therapies are an expanding field of medicine with significant potential. This agreement provides an opportunity for Delivra to pair our leading transdermal technologies with Kalytera and its partners, who have a proven track record in pioneering synthetic cannabinoid compounds to address a range of pervasive conditions,” said Chris Schnarr, President of Delivra.
“We believe our delivery platform provides a strong value proposition both for existing and new active pharmaceutical ingredients and anticipate that this transaction will be one in a series of deals that showcase the breadth and value of the Delivra technology.”
Under the terms of the License, Delivra will license its proprietary transdermal delivery technology to Kalytera for its exclusive use with two synthetic cannabinoid compounds which Kalytera has under license and only for use with respect to specific indications which include bone healing, osteogenesis imperfecta, and osteoporosis. The licensed territory is worldwide, but excludes Canada.
During the term of the license, Kalytera will make various milestone payments to Delivra through a combination of cash and Kalytera stock.
“Many oral medications degrade during passage through the gastrointestinal tract,” said Dr. Stuart Silverman, Co-Chair of Kalytera’s Scientific Advisory Board . “This may effect efficacy or it may cause other unwanted side effects. We were attracted to Delivra’s technologies which have demonstrated the ability to reliably deliver molecules through the skin, with desirable pharmacokinetics.”
“In concert with the research now underway at Hebrew University and Tel Aviv University, securing a delivery platform and partner is an important step in advancing Kalytera’s drug candidates towards the clinic,” said Dr. Raphael Mechoulam, Ph.D., Co-Chair of Kalytera’s Scientific Advisory Board.
ABOUT DELIVRA CORP.
Delivra Corp. is a developer of transdermal technologies for the delivery of pharmaceutical and natural molecules through the skin, rather than via pills. Delivra manufactures and sells a growing line of natural topical creams under the LivReliefTM brand, for conditions such as joint and muscle pain, nerve pain, varicose veins, wound healing, and sports performance. LivReliefTM products are available in pharmacies, grocery chains, and independent health food stores across Canada, and on-line at http://www.livrelief.com. In parallel with its consumer products business, Delivra also has a mandate to license its unique, proven, and patent-pending delivery platform to global pharmaceutical companies for the transdermal delivery of third party active ingredients to treat a broad range of conditions. With a global transdermal drug delivery market forecast to grow to USD $40 billion by 2018 (Source: Kelly Scientific), Delivra believes the licensing opportunity is robust. Delivra is headquartered in Burlington, Ontario, Canada and has a research and development laboratory in Charlottetown, PEI, Canada. Further information can be found at: www.delivracorp.com and www.livrelief.com.