Last checked at 11 Mar 2016 12:49
Onzima Ventures plc
("Onzima" or the "Company")
Investee company N4 Pharma announces expansion of IP portfolio
The Company is pleased to announce that N4 Pharma Limited ("N4 Pharma"), its 49% owned investee, has acquired the exclusive global rights to a wide range of novel patents from Opal IP Limited ("Opal") for new uses and formulations of many of the world's leading off patent or soon to come off patent drugs. At the same time, Opal has entered into a consultancy services agreement with N4 Pharma whereby it will provide patent and formulation support in connection with N4's Cocrys® technology.
Opal based in Scotland was established by Peter Brown and Peter Lawton, Lawton formerly director of life cycle maximisation and VP of global litigation strategy and patent coordination for GSK is backed by a team of medical, scientific and formulation specialists. Peter has substantial expertise and success in having developed new patents that substantially extended the life cycle management of some of the world's largest pharma brands such as Paxil and Augmentin. He has since used his expertise to write a vast number of patents for other drugs which can either extend their life cycle or be a rich source of differentiation for generic companies once the drug comes off patent.
Under the terms of the deal with Opal, N4 Pharma has an exclusive agreement to evaluate the most commercially valuable patents which will then be assigned to it pursuant to an assignment and royalty agreement with Opal and filed by N4 Pharma for commercial development.
N4 Pharma CEO Nigel Theobald commented:
"This arrangement with Opal massively extends our capability for formulating new versions of drugs with huge commercial potential. It also brings us access to world leading experts to develop new patents and opportunities for the cocrystal products we are already developing using Cocrys®.
Reformulation is the key to creating value for off patent and soon to be off patent drugs and having access to the level of expertise in Opal gives us a huge advantage in this space. Not only do we have the exclusive rights to the most effective way to manufacture co-crystals we will now own the patents for a range of drugs that can be made using either Cocrys® or combinations of other available reformulation technologies."
For further information please contact:
Onzima Ventures PLC Tel: +44 (0) 1622 717700
Gavin Burnell, Luke Cairns
Nominated Adviser
Cairn Financial Advisers LLP Tel: +44 (0) 20 7148 7900
Sandy Jamieson, Liam Murray
Broker
Peterhouse Corporate Finance Limited Tel: +44 (0) 20 7469 0930
Guy Miller, Lucy Williams