Cambridge based pharma company, Vernalis, has formed an alliance with a US partner to exploit the US prescription cough & cold market.The UK company has tied in with Tris Pharma Inc in New Jersey for the venture. The companies have signed an exclusive licensing agreement to develop and commercialise multiple novel products in the identified, highly lucrative market segment.
The collaboration involves Tris using its proprietary technology to develop – on behalf of Vernalis – up to six New Drug Applications (NDAs). Tris will undertake and fund the development work and Vernalis will pay development milestones to Tris on each product as they successfully progress through clinical development. Vernalis will acquire and then commercialise these products on approval in the US and pay a sales-based royalty to Tris.
Vernalis CEO, Ian Garland, said: “I am exceptionally pleased to be able to announce this collaboration with Tris today. This transaction is fundamental in transitioning Vernalis into a diversified and self-sustaining pharmaceutical company.
“The US cough/cold prescription market is a market that we know extremely well and Tris is a uniquely positioned development partner, with proven capabilities validated by multiple NDA approvals.”
Ketan Mehta, CEO of Tris added: “The US cough and cold market has been ripe for innovation. When you consider that market research shows most adults prefer long lasting relief in the form of a liquid, rather than solid dose, our technology is well positioned to address this market.
“We are delighted to partner with Vernalis as they have shown unique understanding of this space in the marketplace.”
• PHOTOGRAPH SHOWS: Vernalis CEO, Ian Garland