WEST CALDWELL, N.J., April 26 /PRNewswire-FirstCall/ -- Pro-Tect Pharmaceuticals, Inc. (PRTT) announced today that it has completed the acquisition of multiple patents and patents-pending from Nectid, Inc., that enable three revolutionary drug delivery technologies.
The acquired patents would enable Pro-Tect to provide efficient, effective drug delivery platforms for three essential yet currently unmet needs:
- A gastro-retentive platform for drugs that otherwise have short time windows for absorption
- An abuse deterrent platform for prescription drugs that are prone to abuse, especially narcotic pain-killers
- A once-daily platform that allows two or more drugs commonly taken in combination to be delivered via a single dose with fewer side effects
"It's incredible to us that no one previously has developed delivery platforms that meet such obvious and crucial needs," said Pro-Tect CEO Bill Abajian. "In particular, the ability to treat long-term pain without patients becoming opioid-addicted would fundamentally change pain management. We're excited that the success of these drug delivery platforms could not just improve the quality of life for so many people, but actually save lives."
In the near term, Pro-Tect intends to proceed with a comprehensive program to develop and commercialize once-daily drugs for diabetic neuropathic pain, fibromyalgia, postherpetic neuralgia and epilepsy.
Pro-Tect also plans to develop and commercialize once-daily opioid combinations as well as abuse-deterrent opioid combinations for moderate to severe pain. This patents acquisition includes a pain project that is already under discussion for a potential licensing agreement with a multinational pharmaceutical manufacturer.
About Pro-Tect Pharmaceuticals, Inc.
Based in West Caldwell, New Jersey, Pro-Tect (PRTT) is a publicly held drug delivery and new product development company. Pro-Tect applies its proprietary drug delivery technologies to develop clinically effective drugs and is building a robust pipeline of product candidates based on its proprietary technologies, scientific knowledge and clinical expertise. For more information, visit our newly launched website at www.protectpharma.com.
Safe Harbor Statement
This news release may contain certain forward-looking statements and information concerning Pro-Tect's business, operations, financial condition and prospects. These statements are subject to various risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors. The information set forth herein should be read in light of such risks and uncertainties. The Company assumes no duty or obligation to update these statements at any future date.
SOURCE Pro-Tect Pharmaceuticals, Inc.