Delivra’s research and development includes pharmaceutical formulations, compounding, stability testing, and measurement of localized penetration and delivery of topical celecoxib. This Delivra-celecoxib formulation demonstrates the ability to concentrate the delivery of the medicine within the joint, where it is required for pain and arthritis treatment, and reduce the amount of drug circulating needlessly throughout the body. Topical Delivra-celecoxib cream may afford a better efficacy profile and improved safety as it reduces harmful side effects (cardiovascular and gut upset), as a result of oral delivery (pill) issues associated with metabolism in the gastrointestinal tract.
Delivra’s advances in the targeted transdermal delivery of celecoxib, a classically oral medication, mark a milestone in these efforts. CelebrexTM, as it is most commonly known under the Pfizer Inc. brand name, achieved worldwide sales of approximately US$ 2.8 billion in 2014. The drug (celecoxib) is now off patent and available from approved generic drug manufacturers.
The Delivra-celecoxib formulation follows on the heels of Delivra’s successes earlier this year working with the antibiotic doxycycline for diabetic wounds. The ability to repurpose existing and globally accepted drugs for an entirely new indication opens a vast new market opportunity through Delivra’s transdermal technology.
In pre-clinical testing undertaken by an independent third-party research organization, the Delivra-celecoxib system provided sustained pain reduction, as its multi-layer liposomal system gradually releases the medicine to the area of need. This transdermal “slow release” is a valuable and highly advantageous characteristic as oral medications can yield profiles that mimic “on/off”. As such, topical Delivra-celecoxib cream may offer important advantages to oral medication with better localization of the drug at the site of interest to yield quicker and longer lasting relief, using less drug.
“We are very pleased with these strong results, which once again showcase the feature-rich nature of our delivery system, outperforming both oral delivery and a leading transdermal base”, said Dr. Joe Gabriele, founder and CEO of Delivra. “With a robust R&D pipeline of similar projects, we will continue to innovate with high-value solutions for major global markets and thereby enhance an already substantial portfolio of out-licensing opportunities.”
Delivra has filed a provisional US patent to protect its unique formulation and as research indicates, Delivra-celecoxib promises a unique commercialization opportunity. On an interim basis while the Company seeks long-term licensing partners, the Delivra-celecoxib topical system will be available by prescription across Canada through the compound pharmacy services of NKS Health.
Director Option Grant:
Delivra also announced today the granting of incentive stock options as compensation to David T. Thibodeau, a recent addition to the Board of Directors. Mr. Thibodeau has been granted options to purchase 156,250 common shares of the Company at an exercise price of $0.75 per share. These options expire on October 3, 2021. Of the total stock options granted, 56,250 options vest 1/3 immediately, 1/3 on October 26, 2016 and 1/3 on January 26, 2017. The remaining 100,000 stock options vest quarterly over a period of two years, with the first tranche of 12,500 options vesting immediately.
ABOUT DELIVRA CORP.
Delivra Corp. is a developer of transdermal technologies for the delivery of pharmaceutical and natural molecules through the skin, rather than via pills. Delivra manufactures and sells a growing line of natural topical creams under the LivReliefTM brand, for conditions such as joint and muscle pain, nerve pain, varicose veins, wound healing, and sports performance. LivReliefTM products are available in pharmacies, grocery chains, and independent health food stores across Canada, and on-line livrelief.com. LivRelief products were launched for on-line sales in the United States in Q4 2015. In parallel with its consumer products business, Delivra also has a mandate to license its unique, proven, and patent-pending delivery platform to global pharmaceutical companies for the transdermal delivery of third party active ingredients to treat a broad range of conditions. With a global transdermal drug delivery market forecast to grow to USD $40 billion by 2018 (Source: Kelly Scientific), Delivra believes the licensing opportunity is robust. Delivra is headquartered in Burlington, Ontario and has a research and development laboratory in Charlottetown, PEI.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in the Company’s filings with the Canadian securities regulators, which filings are available at www.sedar.com.
For more information, please contact:
Chris Schnarr, President and CFO