Dthera Sciences Announces Pursuit of Strategic Transaction
SAN DIEGO, CA / ACCESSWIRE / April 2, 2019 / Dthera™ Sciences (OTCQB: DTHR) a leading digital therapeutic company specializing in neurodegenerative diseases, today announced that its Board of Directors has initiated a process to pursue a range of potential strategic transactions to enable the Company to bring its development-stage Alzheimer’s product, DTHR-ALZ, to market more rapidly. These structures include a funded partnership on DTHR-ALZ, an acquisition of the Company, a business combination, or strategic investment/financing into the Company.
“The past several weeks have been challenging for the Alzheimer’s community, with multiple disheartening announcements, including the discontinuation of two Phase III drug trials,” said Edward Cox, CEO of Dthera Sciences. “As a result, we have decided to take immediate steps to accelerate our efforts to get DTHR-ALZ into the hands of patients and their families, and feel that pursuing a strategic transaction is the best way to complete the development and FDA approval of this critically needed product.”
DTHR-ALZ is a digital therapeutic that has been granted Breakthrough Device designation by the U.S. Food and Drug Administration (FDA) for the mitigation of the symptoms of agitation and depression associated with Alzheimer’s disease. The device digitally delivers an evidence-based behavioral intervention called Reminiscence Therapy to individuals with Alzheimer’s disease.
The Company has been in early-stage discussions with several third-party entities relating to a licensing partnership or acquisition, and has also been approached with respect to business combination transactions. The Company has elected to formalize this process by announcing its goal of finding a commercialization partner.
As a first step in this process, Dthera recently announced that it has entered into an exclusivity agreement with a company headquartered in Japan for development and commercialization rights to DTHR-ALZ in Japan.
“We believe that we have a world class asset, in a sector that has seen significant partnering activity, targeting a disease state that has become a global public health crisis,” continued Mr. Cox. “DTHR-ALZ has the potential to become the first medical device approved by the FDA for the treatment of Alzheimer’s disease. We believe that making this bold and decisive move is the right thing for Alzheimer’s patients, their families, our shareholders, and our product.”
About Dthera Sciences
Dthera Sciences (OTCQB: DTHR) is a leading digital therapeutic company specializing in neurodegenerative diseases. The San Diego based, publicly traded company is working to improve the lives of seniors and individuals suffering from neurodegenerative diseases, as well as those who care for them. Dthera is developing DTHR-ALZ, a medical device that has been granted Breakthrough Device designation by the FDA for the mitigation of the symptoms of agitation and depression associated with Alzheimer’s disease. To the company’s knowledge, DTHR-ALZ is the first product to receive Breakthrough Device designation for the treatment of Alzheimer’s disease. If granted approval by the FDA, DTHR-ALZ would become the first non-pharmacological prescription treatment for the symptoms of Alzheimer’s disease, and the first medical device of any kind for the treatment of Alzheimer’s disease. Please see www.dthera.com for more information.
Forward Looking Statement
This press release contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995, regarding the research, development and commercialization of therapeutic products and technologies, as well as the Company’s efforts to explore strategic alternative structures and transactions in various domestic and international markets. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of the statements made, and could cause actual outcomes and results to differ materially from current expectations. No forward-looking statement can be guaranteed. These forward-looking statements are made as of the date of this press release, and the Company expressly disclaims any intention or obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Readers are urged to read the risk factors set forth in the Company’s most recent annual report on Form 10-K, subsequent quarterly reports filed on Form 10-Q, and other filings made with the SEC. Copies of these reports are available from the SEC’s website at www.sec.gov or without charge from the Company.
Erica Sosnowski, MBA
VP Business Development
SOURCE: Dthera Sciences