AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Adare Acquires Egalet’s Proprietary “ParvuletTM” Technology Platform

April 15, 2019

PRINCETON, N.J. & WAYNE, Pa.--(BUSINESS WIRE)--Apr 15, 2019--Adare Pharmaceuticals, Inc. today announced that it has entered into an agreement with Egalet Corporation (OTCQX: ZCOR), to acquire global rights of the “Parvulet TM ” technology platform and its associated Intellectual Property. The technology is protected by several patents granted in the United States, Canada and Europe with patent life ranging from five to 10 years.

Using commonly used pharmaceutical excipients, the technology enables single-dose formulation of taste-masked, easy-to-swallow oral medications with a soft food like texture for pediatric and geriatric populations (including those with dysphagia). One of the unique features of the technology is its ability to enable high dose regimens that may not be feasible by other means. Parvulet technology will be complementary to the existing proprietary technologies owned by Adare Pharmaceuticals, allowing the company to expand its product development capabilities.

“We are excited to bring this new technology into our portfolio of proven product development technology platforms,” commented Ajay Damani, Vice President, Pharmaceutical Technologies at Adare. “It demonstrates our commitment to advancing novel technologies for improved drug delivery mechanisms and better healthcare solutions for patients.”

Under the agreement, Egalet will transfer the Intellectual Property and know-how to Adare Pharmaceuticals, effective immediately. Details of the agreement terms were not disclosed.

“Given our focus on our seven commercial products, we are pleased to have signed this agreement enabling Adare to leverage the Parvulet technology to develop new products,” said Mark Strobeck, Egalet Chief Operating Officer.

To find out more about the technology and how Adare can partner with you, please send requests to BusDev@adarepharma.com.

About Adare Pharmaceuticals, Inc.

Adare Pharmaceuticals utilizes its differentiated Pharmaceutical Technology and Microbiome scientific platforms to develop novel value-added products for the global market. Through its Specialty CDMO business, Adare provides co-development and contract services to biopharmaceutical companies to develop and manufacture products that are marketed by its partners. Through its Adare Development affiliate, Adare invests in its own product pipeline and currently has a number of investigational products in various stages of development. Adare has developed and manufactured more than 40 products sold by partners in more than 100 countries globally including Lacteol™, Zoolac™, Viactiv™, Amrix ® and a number of branded and complex generic products. http://www.adarepharma.com.

About Egalet

Egalet, a commercial-stage pharmaceutical company, is focused on marketing treatments for different types of pain and inflammation. Given the need for various types of pain products and the ongoing issue of prescription opioid abuse, Egalet is focused on bringing non-narcotic products and abuse-discouraging formulations of opioids to individuals in pain and the healthcare providers who care for them. Egalet markets six products: SPRIX ® (ketorolac tromethamine) Nasal Spray, ZORVOLEX ® (diclofenac), VIVLODEX ® (meloxicam), TIVORBEX ® (indomethacin), , INDOCIN ®  (indomethacin) suppositories, INDOCIN oral suspension capsules and OXAYDO ® (oxycodone HCI, USP) tablets for oral use only —CII.

For full prescribing information, boxed warnings and medication guides, please visit the following sites for each product: sprix.com, vivlodex.com, zorvolex.com, tivorbex.com, and oxaydo.com. Prescribing information, the boxed warning and medication guide for INDOCIN oral suspension and suppositories, can be found at dailymed.nlm.nih.gov.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190415005838/en/

CONTACT: Adare Contacts:

Business development inquiries

BusDev@adarepharma.comMedia Relations inquiries

ir@adarepharma.comEgalet Contact:

E. Blair Clark-Schoeb

Senior Vice President, Communications

Email:ir@egalet.com

Tel: 484-259-7370

KEYWORD: UNITED STATES NORTH AMERICA NEW JERSEY PENNSYLVANIA

INDUSTRY KEYWORD: TECHNOLOGY OTHER TECHNOLOGY HEALTH PHARMACEUTICAL OTHER HEALTH GENERAL HEALTH

SOURCE: Adare Pharmaceuticals, Inc.

Copyright Business Wire 2019.

PUB: 04/15/2019 04:33 PM/DISC: 04/15/2019 04:33 PM

http://www.businesswire.com/news/home/20190415005838/en

All contents © copyright 2019 The Associated Press.All rights reserved.