PharmaTher Signs Worldwide License Agreement for Patented Ketamine Formulation Targeting Mental Health, Neurological and Pain Disorders
(Press Release) TORONTO, Jan. 19, 2021 — Newscope Capital Corporation (CSE: PHRM) (OTCQB: PHRRF), who through its wholly-owned subsidiary, PharmaTher Inc., is a specialty life sciences company focused on the research and development of psychedelic pharmaceuticals, is pleased to announce that PharmaTher has entered into an Exclusive Worldwide License Agreement with the National Health Research Institutes (NHRI) for the development and commercialization of a patented combination formulation of FDA-approved ketamine and betaine (KETABET) as a potential next-generation ketamine treatment for mental health, neurological and pain disorders.
KETABET has shown in clinical research to enhance the antidepressant effect while having the potential to significantly reduce the known negative side effects of ketamine. Side effects such as hallucinations, confusion, memory loss and abuse liability compromise the compliance and potential therapeutic value of ketamine.
Through a proprietary microneedle (MN) patch, KETABET aims to empower patients to dose their medication remotely, safely and conveniently rather than being under supervision by a healthcare provider at a certified medical office. KETABET MN patch has the potential to incorporate anti-tampering and anti-abuse features because of the combined presence of ketamine and betaine and the delivery format of the product that would parallel the approach used for the tamper-resistant transdermal fentanyl patch.
PharmaTher will seek FDA approval to conduct a Phase II clinical study for KETABET targeting the more than 300 million people who suffer from major depressive disorder and 100 million people who are resistant to available treatments worldwide.
We believe KETABET has the potential to change the way mental health, neurological and pain disorders will be treated for the hundreds of millions of people globally… We are pursuing the clinical development of KETABET to overcome the current limitations of ketamine and to unlock the known potential therapeutic value of ketamine for FDA approval.Fabio Chianelli, CEO of PharmaTher
Currently, pharmaceutical companies are developing new types of antidepressants. Approved antidepressants have significant limitations, including delayed response rates and unwanted side effects causing poor patient compliance and low remission rates.
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