MONMOUTH JUNCTION, N.J., March 11, 2013 — Tris Pharma, a specialty pharmaceutical company focused on developing innovative drug delivery technologies, announced today receipt of a first milestone payment under its U.S. prescription cough\/cold collaboration with Vernalis plc (Vernalis). This milestone recognizes the achievement by Tris of proof-of-concept (POC) for the first collaboration compound, CCP-01.<\/p>\n
Under the collaboration, POC required the successful completion of several activities, including a successful human pilot comparative study against an immediate release reference product. Assuming continued clinical success, Tris expects to file a New Drug Application with the U.S. Food & Drug Administration for CCP-01 in mid-2014.<\/p>\n
\u201cWe\u2019re very pleased to have achieved proof-of-concept for CCP-01,\u201d said Ketan Mehta, President and CEO of Tris Pharma. \u201cOur propriety OralXR+\u2122 technology is ideally suited to bring long-lasting relief to U.S. cough and cold sufferers, which our research has identified as a significant unmet need.\u201d<\/p>\n
Ian Garland, CEO of Vernalis, commented, \u201cWe are delighted with this early success in our collaboration with Tris and look forward to a productive 2013 when we anticipate further significant progress for our cough\/cold pipeline.\u201d<\/p>\n
Under the deal announced in February 2012, Vernalis is paying Tris to develop up to six unique OralXR+ based extended-release liquid equivalents to existing immediate release prescription cough\/cold treatments. The companies have not disclosed the financial terms of their collaboration.<\/p>\n