Cessatech and Ventis Pharma announce US partnership for CT001
- Cessatech and Ventis Pharma enter a co-development and commercialization royalty license agreement for CT001 sharing net profits
- CT001 will be part of US Ventis Pharma's distribution of innovative pain management therapies under an early access program in the US
- A large US market of more than 15 million pediatric injuries or procedural pain incidents, categorized as moderate to severe, giving the partnership a large market opportunity, with potential for revenues in 2024
On 27 June - Cessatech A/S ("Cessatech" or "the Company") announces that the Company has entered into an exclusive US license and collaboration agreement with Ventis Pharma Corporation - a biopharmaceutical company focused on developing and formulating innovative pain management therapies - for the development and commercialization of CT001 for the US market. Under the agreement both parties, Cessatech and Ventis Pharma will share costs and net profits 50/50 with the potential to generate revenues from 2024, much earlier than originally anticipated.
The deal leverages Ventis Pharma's experience in the US regulatory and commercial landscape for pain management and CT001 will join other therapies in the company's portfolio being used by selected US hospitals under an early access program governed by the FDA. In parallel to offering CT001 under an early access program, Ventis will build on the late-stage development work already carried out by Cessatech through the approved Pediatric Investigation Plan (PIP) to pursue a New Drug Application (NDA) with the FDA for the treatment of acute pain in pediatrics.
Jes Trygved, CEO Cessatech
"The US is the largest market and we believe the partnership with Ventis represents the best opportunity to get CT001 to a much-needed pain management of children. With this partnership CT001 can potentially be available to patients in the US already by the next year - which is 3-4 years earlier than originally anticipated - as we leverage the skills and operations of our partner. This collaboration is a good illustration of our strategy to build our business by working with partners who can help us successfully navigate the regulatory and commercial landscape in different territories.Ventis will potentially also be involved in the further development of our pipeline within pain management. We are truly excited about this partnership"
Tim Patrick, CEO Ventis Pharma
"The partnership between Cessatech and Ventis is a testament to the power of collaboration and mutual growth," said Tim Patrick, CEO of Ventis Pharma. "Cessatech has developed a unique product that has the potential to provide a much-needed option for children experiencing pain during treatment for injury or procedures. We are excited to utilize our skills and experience to bring CT001 to patients. We anticipate that the combined opportunities would bring us a market opportunity in the range of $200-400M within 5 years"
About the US market
There are more than 15 million pediatric injuries or procedural pain incidents (categorized as moderate to severe) requiring medical treatment annually in the US. The majority of these incidents are in a hospital setting (emergency rooms and pediatric hospital units) but also occur in pre-hospital settings such as ambulances. Current pain management regimes for children typically involve the injection of pain relief treatments. CT001 provides a unique needle free solution to manage pediatric pain incidents.
For more information about Cessatech, please contact:
Jes Trygved, CEO
Phone: +45 9387 2309
E-mail: [email protected]
For more information about Ventis Pharma, please contract:
Tim Patrick, CEO
Phone: +1 800-441-5841
Email: [email protected]
Cessatech A/S is a Danish pharmaceutical company committed to developing and commercializing evidence-based and innovative medicines for children for the treatment of pediatric acute pain. Its lead asset (CT001) is an analgesic nasal spray for the treatment of acute and planned painful procedures in children. The advantages include needle-free administration, easy administration, a fast-acting therapeutic effect, and being medically approved for children. CT001 is at its pivotal stage of clinical development.
About Ventis Pharma
Ventis Pharma Corporation is a biopharmaceutical company focused on developing and producing innovative pain management therapies. We create solutions to treat patients with a variety of post-operative surgical pain, chronic pain syndromes and reducing pain in the dental arena. We develop safe, effective, and suitable therapies for a wide variety of patient applications that safely serve both adults and children. At Ventis Pharma, we conduct ongoing research and development activities for adjuvant agents to prolong pain relief interventions in a wide variety of patient care situations. Ventis is headquartered in Newport Beach, CA and is represented by a national sales force.