WAYNE, Pa., Nov. 20, 2017 /PRNewswire/ -- Egalet
Corporation (Nasdaq: EGLT) (Egalet), a fully integrated specialty
pharmaceutical company focused on developing, manufacturing and
commercializing innovative treatments for pain and other
conditions, today announced the company was awarded a grant from
InnoBooster to develop a novel oral delivery system using a new
application of Egalet's Guardian Technology to develop products in
therapeutic areas outside of pain.
"We believe the grant from InnoBooster demonstrates the breadth
of applications of our Guardian Technology," said Karsten Lindhardt, Ph.D., chief scientific
officer of Egalet. "This provides a fantastic opportunity for us to
use a novel approach to potentially develop oral formulations of
products that would normally be delivered via injection."
The grant provides non-dilutive funds to support the research
project and will cover most of the external expenses needed to
explore this opportunity into the pre-clinical stage of
development.
About InnoBooster
InnoBooster is a fund under the
Danish Growth Fund. The fund's objective is to promote growth and
renewal for small and medium-sized enterprises in order to achieve
a greater socio-economic return. Since 1992, The Danish Growth Fund
has together with private investors co-financed growth in more than
6,600 Danish companies with a total commitment of more than
DKK 20 billion. InnoBooster invests
in promising ideas from start-ups. In 2017, InnoBooster will
distrubute DKK 300 million.
InnoBooster has a strong focus on innovative companies with the
potential to create growth and jobs in Denmark.
About Egalet
Egalet, a fully integrated specialty
pharmaceutical company, is focused on developing, manufacturing and
commercializing innovative treatments for pain and other
conditions. Egalet has three approved products: ARYMO®
ER (morphine sulfate) extended-release tablets for oral use —CII,
developed using Egalet's proprietary Guardian™ Technology,
OXAYDO® (oxycodone HCI, USP) tablets for oral use only
—CII and SPRIX® (ketorolac tromethamine) Nasal Spray.
Using Guardian Technology, Egalet is developing a pipeline of
clinical-stage, product candidates for which we are seeking
partners including Egalet-002, an abuse-deterrent,
extended-release, oral oxycodone formulation for the management of
pain severe enough to require daily, around-the-clock, long-term
opioid treatment and for which alternative treatment options are
inadequate. Guardian Technology can be applied broadly across
different classes of pharmaceutical products and can be used to
develop combination products that include multiple active
pharmaceutical ingredients with similar or different release
profiles. For full prescribing information on ARYMO ER, including
the boxed warning and medication guide, please visit arymoer.com.
For full prescribing information on SPRIX, including the boxed
warning and medication guide, please visit sprix.com. For full
prescribing information on OXAYDO, including the boxed warning and
medication guide, please visit oxaydo.com.
Safe Harbor
Statements included in this press release that are not historical
in nature and contain the words "anticipate," "believe,"
"estimate," "expect," "intend," "may," "plan," "predict,"
"project," "suggest," "target," "potential," "will," "would,"
"could," "should," "continue," "look forward to" and other similar
expressions are "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on management's current
expectations and are subject to known and unknown uncertainties and
risks. Actual results could differ materially from those discussed
due to a number of factors, including, but not limited to: the
successful implementation and realization of the anticipated
benefits from Egalet's expense reduction plan; Egalet's estimates
with regard to its operating plan, expenses, future revenues,
capital requirements and needs for additional financing; the
success of Egalet's clinical trials, including the timely
recruitment of trial subjects and meeting the timelines therefor;
Egalet's ability to obtain and maintain regulatory approval of its
product candidates and the labeling claims that Egalet believes are
necessary or desirable for successful commercialization of its
products and product candidates; Egalet's ability to maintain the
intellectual property position of its products and product
candidates; Egalet's ability to identify and reliance upon
qualified third parties to manufacture its products; Egalet's
ability to commercialize its products, and to do so successfully;
the costs of commercialization activities, including marketing,
sales and distribution; Egalet's ability to execute on its sales
and marketing strategy, including developing relationships with
customers, physicians, payors and other constituencies; the size
and growth potential of the markets for Egalet's products and
product candidates, and Egalet's ability to service those markets;
Egalet's ability to obtain reimbursement and third-party payor
contracts for its products; Egalet's ability to service or
refinance its debt obligations; Egalet's ability to raise
additional funds to execute its business plan and growth strategy
on terms acceptable to Egalet, if at all; Egalet's ability to find
and hire qualified sales professionals; the rate and degree of
receptivity in the marketplace and among physicians to Egalet's
products; the success of products which compete with Egalet's that
are or become available; general market conditions; and the Risk
Factors set forth in Egalet's Annual Report on Form 10-K and
Quarterly Reports on Form 10-Q filed with the United States
Securities and Exchange Commission (SEC) and in other filings
Egalet makes with the SEC from time to time. In addition, the
forward-looking statements included in this press release represent
Egalet's views only as of the date hereof. Egalet anticipates that
subsequent events and developments may cause its views to change.
While Egalet may elect to update these forward-looking statements
at some point in the future, it specifically disclaims any
obligation to update or revise any forward-looking-statements
contained in this press release whether as a result of new
information or future events, except as may be required by
law.
Investor and Media Contact:
E. Blair Clark-Schoeb
Senior Vice President, Communications
Email: ir@egalet.com
Tel: 484-259-7370
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SOURCE Egalet Corporation