PreveCeutical Medical Inc. (CSE: PREV) (OTCQB: PRVCF) has entered into a research and option agreement with the University of Queensland (UQ) and UniQuest Pty Limited, the university’s main commercialisation company to develop non-addictive painkillers.
Under the agreement, PreveCeutical said the parties intend to conduct a research programme which expands the use of their disulfide linker technology and seeks to develop non-addictive analgesics for the treatment of pain, which may offer an alternative to addictive opioids.
The health sciences company – which develops innovative preventive therapies utilising organic and nature identical products - noted that the US opioid epidemic has led to significant numbers of opioid-related deaths and addictions, taxing public health care systems and affecting social and economic welfare.
The group said the multiphase research program will involve peptide library synthesis pharmacological evaluation, and acute pharmacokinetic assessment and efficacy determinations in appropriate models of pain and inflammation.
The programme has a targeted start date of 1 March 2018, and will be led by UQ researcher and PreveCeutical’s chief research officer, Dr. Harendra Parekh, in collaboration with the UQ School of Pharmacy’s pain and inflammation pharmacology expert, associate professor Peter Cabot.
PreveCeutical said, under the agreement, it will own all intellectual property developed under the research program and will be granted an option to negotiate an exclusive, worldwide licence to UniQuest’s background intellectual property.
As consideration for the licence, the company will pay UniQuest sales-based royalties and certain amounts upon the achievement of predetermined development milestones.