MONTREAL, QUEBEC–(Marketwired – Jan 1, 2015) – Knight Therapeutics Inc. (TSX:GUD) (“Knight” or the “Company”), a leading Canadian specialty pharmaceutical company, today announced that it has entered into a strategic partnership with NeurAxon Inc. (“NeurAxon”) for the commercialization of NeurAxon’s innovative products in various stages of development (“Pharmaceuticals”) in Canada, Israel, South Africa and Russia (“Territory”).
Under this partnership, Knight will pay approximately $1.75 million cash and provide additional funding to further develop the Pharmaceuticals. A new company will be formed called NeurAxon Pharma Inc. (“NeurAxon Pharma”) which will own the Pharmaceuticals for all markets except the Territory and will continue the development of the clinical portfolio.
“We are pleased to partner with NeurAxon for the development and commercialization of their portfolio of pre-clinical and clinical products. NeurAxon has shown that their nitric oxide synthase inhibitors (“NOS”) are safe and show clinical markers for efficacy in migraine. We believe that NeurAxon’s NOS assets will find a profitable niche and we look forward to participating in the growth of NeurAxon Pharma for the benefit of patients and shareholders,” stated Jonathan Ross Goodman, President and CEO of Knight.
Dr. John S. Andrews, President of NeurAxon said “We are delighted to be able to secure the opportunity to continue the development of our novel NOS compounds. We have identified a new path forward to commercialization and look forward to working with Knight to ensure the benefits of our technology are brought to the patients in need.”
About Knight Therapeutics Inc.
Knight Therapeutics Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian and world markets. Knight Therapeutics’ shares began trading on TSX-V on March 3, 2014 and graduated to TSX on April 29, 2014 under the symbol GUD. For more information about Knight Therapeutics Inc., please visit the company’s web site at www.gud-knight.com or www.sedar.com.
About NeurAxon Inc.
NeurAxon is a clinical stage research company dedicated to the development of innovative selective inhibitors of nitric oxide synthase as novel therapies for migraine and other conditions. NOS is a family of enzymes which controls the production of the gaseous neurotransmitter nitric oxide thought to be a key modulator in the brain, vasculature and other organs. NeurAxon is the first company to develop selective inhibitors of NOS and has a unique patent portfolio to protect its proprietary knowledge. NeurAxon Pharma will focus on developing the use of NOS inhibitors for use in migraine, visceral pain and dermatology in conjunction with academic and industrial collaborators and partners.
This press release may contain forward-looking statements and predictions. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. The Company considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but cautions that these assumptions regarding the future events, many of which are beyond the control of the Company and its subsidiaries, may ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially from current expectations, are discussed in the Company’s Listing Application dated February 21, 2014 and its short form prospectus dated December 16, 2014. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information or future events, except as required by law.