CeNeRx BioPharma received an exclusive, worldwide license to develop, manufacture, and commercialize PharmaNess Neuroscience’s cannabinoid portfolio. PharmaNess reports that its pipeline includes over a dozen preclinical compounds that selectively target the CB1 and CB2 receptors.
"Gaining access to this rich pipeline of cannabinoid compounds represents a unique opportunity for CeNeRx," points out Barry Brand, CEO of CeNeRx. "These compounds work via a novel, yet well-described mechanism-of-action, have excellent selectivity, and could potentially be applied to large indications with significant unmet need."
The collaboration between the two companies also includes drug discovery efforts aimed at further expanding their joint cannabinoid portfolio. The firms believe that these compounds may be used as agonists for pain, glaucoma, and other CNS-related disorders as well as an antagonist for obesity.
Under the terms of the agreement, PharmaNess Neuroscience will receive an upfront payment from CeNeRx as well as development milestones. PharmaNess also will be paid royalties on global sales of any commercialized cannabinoid compounds.