Egalet’s “Parvulet” Technology Acquired by Adare Pharmaceuticals
Adare Pharmaceuticals, Inc. today announced that it has entered into an agreement with Egalet Corporation, to acquire global rights of the “Parvulet” 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 complement existing proprietary technologies owned by Adare Pharmaceuticals, allowing the company to expand its product development capabilities.
Ajay Damani, Vice President, and Pharmaceutical Technologies at Adare, commented, “We are excited to bring this new technology into our portfolio of proven product development technology platforms, It demonstrates our commitment to advancing novel technologies for improved drug delivery mechanisms and better healthcare solutions for patients.”
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. 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.
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.
