Zosano Pharma Announces Agreement to Collaborate with Mitsubishi Tanabe Pharma Corporation
August 18 2020 - 8:30AM
Zosano Pharma Corporation (NASDAQ:ZSAN), a clinical-stage
biopharmaceutical company, today announced that it has entered into
a feasibility study agreement with Mitsubishi Tanabe Pharma
Corporation, a global pharmaceutical company that develops and
commercializes innovative therapies for patients addressing unmet
medical needs, centered on its priority disease areas — autoimmune
diseases, diabetes and kidney diseases, central nervous system
diseases, and vaccines.
“Our agreement with Mitsubishi Tanabe Pharma Corporation allows
us to combine our proprietary transdermal microneedle drug delivery
platform with Mitsubishi Tanabe Pharma Corporation’s drug
development candidate,” said Steven Lo, President and CEO of
Zosano. “We expect through this partnership, to demonstrate
the broad applicability of our platform for making a difference in
the lives of patients when combined with pharmaceutical products
that address significant unmet medical needs.”
Under the agreement, Zosano will evaluate the feasibility of
formulating a pharmaceutical agent being developed by Mitsubishi
Tanabe Pharma Corporation for administration in humans, with its
proprietary microneedle patch system. Defined research and
development activities will include both in vitro and in vivo
phases. Mitsubishi Tanabe Pharma Corporation receives
the right to exercise an option to negotiate an exclusive license
to the relevant Zosano technologies in the defined field, which
exercise will be dependent on the outcome of the studies.
Financial terms and the identity of the Mitsubishi Tanabe Pharma
Corporation molecule and development program are not disclosed.
About Zosano Pharma Zosano Pharma
Corporation is a clinical-stage biopharmaceutical company
focused on developing products where rapid administration of
approved molecules with established safety and efficacy profiles
may provide substantial benefit to patients, in markets where
patients remain underserved by existing therapies. The company’s
transdermal microneedle system technology consists of titanium
microneedles coated with drug that are designed to enable rapid
systemic administration of therapeutics to patients. Zosano’s lead
product candidate is Qtrypta™ (M207), which is a proprietary
formulation of zolmitriptan delivered via its transdermal
microneedle system technology, as an acute treatment for migraine.
The company anticipates that many of its current and future
development programs may enable the company to utilize a regulatory
pathway that has the potential to streamline clinical development
and accelerate the path towards commercialization. Learn more at
www.zosanopharma.com.
Forward-Looking Statements
This press release contains forward-looking statements regarding
the feasibility study agreement with Mitsubishi Tanabe Pharma
Corporation, our goals and expectations with respect to the
feasibility study agreement and other future events and
expectations described in this press release. Readers are urged to
consider statements that include the words "may," "will," "would,"
"could," "should," "might," "believes," "estimates," "projects,"
"potential," "expects," "plans," "anticipates," "intends,"
"continues," "forecast," "designed," "goal," "unaudited,"
"approximately" or the negative of those words or other comparable
words to be uncertain and forward-looking. These statements are
subject to risks and uncertainties that are difficult to predict,
and actual outcomes may differ materially. These include risks and
uncertainties, without limitation, associated with the Zosano’s
ability to obtain additional cash resources to continue operations
for the remainder of 2020, the process of discovering, developing
and commercializing products that are safe and effective for use as
human therapeutics, risks inherent in the effort to build a
business around such products and other risks and uncertainties
described under the heading "Risk Factors" in the Zosano's most
recent annual report on Form 10-K and quarterly reports on Form
10-Q. Although Zosano believes that the expectations reflected in
these forward-looking statements are reasonable, Zosano cannot in
any way guarantee that the future results, level of activity,
performance or events and circumstances reflected in
forward-looking statements will be achieved or occur. All
forward-looking statements are based on information currently
available to Zosano and Zosano assumes no obligation to update any
such forward-looking statements.
Zosano Contact:Christine MatthewsChief
Financial Officer 510-745-1200
PR Contacts:Sylvia Wheeler or Alexandra
Santosswheeler@wheelhouselsa.com or asantos@wheelhouselsa.com
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