Global Health Ventures Inc. is a specialty pharmaceutical company focused on life style products, including products for stress relief, sleeping disorders, pain relief, allergies and more. The company today announced it has signed a binding letter of intent (LOI) with Pacific Therapeutics Ltd., a development-stage specialty pharmaceutical company focused on pulmonary diseases including asthma, idiopathic pulmonary fibrosis and acute respiratory distress syndrome (ARDS).
Per the agreement, Global Health will pay Pacific an upfront fee, as well as milestone payments for key clinical and regulatory achievements, and royalties on potential future sales.
The two companies will equally split responsibility for all future clinical development, as well as the commercialization of PTL-202, a combination of two drugs FDA-approved drugs developed for the treatment of diseases other than pulmonary.
“The LOI is an exciting validation of our technology and strategy. Global Health Ventures focus on reformulation and drug delivery, combined with their expertise in allergy; inflammation and clinical development make them an ideal partner for the co-development of PTL-202,” Doug Unwin, Pacific’s president and CEO stated in the press release.
In an experimental model of chronic lung fibrosis, PTL-202 was effective at in reducing indicators of fibrosis.
Dr. Hassan Salari, president and CEO of the Global Health, said the drug has the potential to shed light on benefits of using PTL-202 instead of steroids.
“PTL-202 represents a novel approach to the treatment of fibrosis and other lung diseases and one that may provide significant advantages over the use of steroids that are known for their limited effectiveness and adverse events. This agreement represents an expansion of the Company’s specialty pharma strategy of reformulation and repurposing approved drugs,” Dr. Salari stated.