PreveCeutical Medical Inc (CSE:PREV) (OTCMKTS:PRVCF) said Tuesday that it plans to kick off exploratory discussions about potential partnerships with pharmaceutical and biotech companies to co-develop its Sol-Gel nasal delivery system.
The Vancouver-based health sciences company is pursuing potential alliances for the development of its Sol-gel technology as it now believes this system is of value to companies interested in delivering pharmaceuticals to the central nervous system.
“Starting a dialogue with potential partners will assist PreveCeutical in gauging the potential value of its nose-to-brain delivery approach, and in assessing whether partnership opportunities exist,” according to the company statement.
Dr Mark Jawadekar, PreveCeutical’s chief scientific officer, will take responsibility for leading discussions with external partners for the co-development of this system. Jawadekar previously worked for 28 years at Pfizer where he gleaned extensive experience in cultivating external partnerships and alliances for drug delivery technologies.
“Sol-gel technology has certainly shown significant promise in laboratory testing at this point. Eventually, I would like to see this proprietary technology be successfully applied to a drug which could be targeted for central nervous system delivery,” Jawadekar said in a statement.
“At the right time, we would welcome an opportunity to work with a pharmaceutical or biotechnology company to co-develop the Sol-gel and Sol-gel applicator to be used in pharmaceutical and therapeutic products,” he added.
Headquartered in Vancouver, PreveCeutical is a health sciences company that currently has five research and development programs, including dual gene therapy for curative and prevention therapies for diabetes and obesity, the Sol-gel program as well as non-addictive analgesic peptides as a replacement for morphine, fentanyl and oxycodone.
Contact Ellen Kelleher at [email protected]