Consort Medical PLC Consort Signs Development Agreements with Opiant (1972A)

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RNS Number : 1972A

Consort Medical PLC

10 September 2018

Consort Medical plc

10 September 2018

Consort Medical Signs Development Agreements with Opiant Pharmaceuticals

Bespak and Aesica to jointly develop a ready-to-use nasal delivered version of nalmefene to treat opioid overdoses

Consort Medical plc (LSE: CSRT) ("Consort", "Consort Medical" or the "Group"), a leading developer and manufacturer of drugs and premium drug delivery devices, announces a significant new contract with Opiant Pharmaceuticals Inc. ("Opiant"). Opiant is a specialty pharmaceutical company developing pharmacological treatments for addictions and drug overdose and is working with Consort Medical to develop a delivery device for its OPNT003 (intranasal nalmefene), a long-lasting opioid antagonist for the treatment of opioid overdose.

Consort and Opiant intend to develop a ready-to-use nasal-delivered version of nalmefene for the reversal of opioid overdose. Opioid overdose is the leading cause of death in the U.S. for adults under the age of 50.

Under the agreement, both of Consort's wholly owned subsidiaries, Aesica and Bespak, will work with Opiant to produce a clinically pre-filled Unidose Xtra device with nalmefene. As part of the agreement, Aesica will supply Opiant with clinical samples and registration batches for the purposes of performing clinical studies and obtaining regulatory approvals. In addition, upon approval by the U.S. Food and Drug Administration (FDA), Aesica and Bespak will manufacture and supply the Unidose Xtra device for commercial purposes. The programme will be added to Consort's development pipeline and be referred to as NAS040.

Following the completion of OPNT003 (intranasal nalmefene) formulation studies, Opiant intends to initiate a confirmatory pharmacokinetic study in 2019. Based on previously obtained feedback from the FDA, Opiant intends to pursue a 505(b)(2) development path for OPNT003. Opiant anticipates the potential to submit a New Drug Application for the drug and intranasal delivery device combination in 2020. Opiant retains full commercial rights to OPNT-003, and this development work is largely funded by a $7.4 million National Institutes of Health (NIH) grant.

Jonathan Glenn, Consort Medical's Chief Executive Officer, commented:

"We are delighted to announce this agreement with Opiant which highlights our expertise in the nasal delivery of drugs and the value of our unique offering of providing both drug manufacturing and delivery capabilities alongside one another."

Dr. Roger Crystal, Chief Executive Officer at Opiant, said:

"We are extremely pleased to be working with a group as highly-regarded as the Consort team. OPNT003 has the potential to be a transformative treatment for opioid overdose, and Consort's significant experience with and expertise in inhalation technologies will help support our lead product candidate through commercialization."

Enquiries:

 
                                            Tel: [phone] 
   Consort Medical 
 Jonathan Glenn - Chief Executive Officer 
 Paul Hayes - Chief Financial Officer 
 
 FTI Consulting                             Tel: [phone] 
                                             1000 
 Ben Atwell / Simon Conway 
 

About Consort Medical plc

Consort Medical plc is a leading, global, single source pharma services drug and delivery device company. We are at the leading edge of innovation and we are committed to investing in patient, clinician and customer driven innovation to create new treatments, new markets and new opportunities.

Our businesses:

Bespak is a global market leader in the manufacture of drug delivery devices for pharmaceutical partner companies, including respiratory, nasal, injectables and ocular products, and the manufacture of devices for the point of care diagnostics market. www.bespak.com.

Aesica is a leading provider of finished dose and active pharmaceutical ingredient (API) development and manufacturing services to pharmaceutical partners. www.aesica-pharma.com.

We employ approximately 2,000 people globally of which approximately 1,400 are located in the UK. We have UK facilities in King's Lynn, Cambridge, Nelson, Milton Keynes, Cramlington, Queenborough and Hemel Hempstead, German facilities in Monheim and Zwickau and a facility in Pianezza, Italy. Consort Medical is a public company quoted on the premium list of the London Stock Exchange (LSE: CSRT). www.consortmedical.com.

About Opiant Pharmaceuticals, Inc.

Opiant Pharmaceuticals, Inc. is a specialty pharmaceutical company developing pharmacological treatments for addictions and drug overdose. The National Institute on Drug Abuse, a component of the NIH, describes addictive disorders as chronic relapsing brain diseases which burden society at both the individual and community levels. With its innovative opioid antagonist nasal delivery technology, Opiant is positioned to become a leader in these treatment markets. Opiant's first drug overdose product, NARCAN(R) Nasal Spray, is approved for marketing in the U.S. and Canada by its commercialization partner, Adapt Pharmaceuticals. For more information please visit: www.opiant.com.

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September 10, 2018 02:00 ET (06:00 GMT)