COSTA MESA, CA--(Marketwired - Mar 20, 2017) - NEMUS Bioscience, Inc. (OTCQB: NMUS) announced that the company has signed a development agreement with Nanomerics Ltd. of the United Kingdom, to develop a topical ocular formulation of tetrahydrocannabinol-valine-hemisuccinate (THCVHS), the prodrug of THC, which is the active component of Nemus drug candidate NB1111 being developed for the treatment of glaucoma. The aim of the agreement is to conduct initial studies assessing the preparation of clinical-grade eye drops using the patented Molecular Envelope Technology (MET) developed by Nanomerics. Work under the agreement will commence on a future date to be determined by Nemus in connection with its development plans and corporate objectives.
"Historically, it has been challenging to formulate hydrophobic, or fat-soluble, cannabinoid molecules for efficient and predictable entry into the body, especially the eye," stated Brian Murphy, M.D., M.B.A., Nemus CEO and Chief Medical Officer. "Nemus has found the MET technology profile to be supportive of the work performed to-date using the more hydrophilic THCVHS which was designed to cross physiologic barriers more efficiently. Developing this formulation is an important step before conducting human studies."
"Nanomerics looks forward to working with Nemus on creating medicines that address the medical need for the improved treatment of glaucoma. Nemus, as the only cannabinoid company we are aware of with a complement of prodrugs and analogues of THC and CBD, is uniquely placed to potentially develop these for use in multiple forms of ocular disease," commented Professor Andreas Schätzlein, co-founder and CEO of Nanomerics. Nanomerics' CSO and co-founder Professor Ijeoma Uchegbu explained, "We feel that the MET platform will help NB1111 deliver in the clinic what has already been shown in several animal studies. Namely, penetration into multiple chambers of the eye, a non-opaque eye drop, and a neutral-pH at delivery to lower the risk of eye irritation which is an adverse event seen with some established therapies in glaucoma."
Dr. Murphy noted, "Should we find success in formulating NB1111 using Nanomerics' MET, we could also examine its application using our proprietary Nemus ophthalmic analogue of CBD (NB2222). Our company objective is to establish strategic partnerships utilizing a diverse cannabinoid-based ocular platform to address multiple types of eye disease."
ABOUT NEMUS BIOSCIENCE, INC.
The Company is a biopharmaceutical company, headquartered in Costa Mesa, California, focused on the discovery, development, and commercialization of cannabinoid-based therapeutics for significant unmet medical needs in global markets. Utilizing certain proprietary technology licensed from the University of Mississippi, NEMUS is working to develop novel ways to deliver cannabinoid-based drugs for specific indications, with the aim of optimizing the clinical effects of such drugs, while limiting potential adverse events. NEMUS's strategy is to explore the use of natural and synthetic compounds, alone or in combination with partners. The Company is led by a highly qualified team of executives with decades of biopharmaceutical experience and significant background in early-stage drug development.
Nanomerics is a specialty pharmaceutical company focused on the development of pharmaceutical products with enhanced bioavailability. The company uses proprietary pharmaceutical nanotechnology and know-how developed by the founding scientists Professor Ijeoma F. Uchegbu and Professor Andreas G. Schätzlein at the Universities of Strathclyde and Glasgow and, latterly at the UCL School of Pharmacy. The company's MET technology delivers a step change in target tissue availability of drugs and biological APIs such as peptides across a number of epithelial barriers. Nanomerics exploits its know-how and technology to develop its product pipeline of New Therapeutic Entities (NTEs) and NCEs.
This press release contains forward-looking statements, including statements about the studies relating to and the potential benefits of NB1111 and NB2222, as well as the timing of our near term, intermediate term and long term goals. Such statements and other statements in this press release that are not descriptions of historical facts are forward-looking statements that are based on management's current expectations and assumptions and are subject to risks and uncertainties. If such risks or uncertainties materialize or such assumptions prove incorrect, our business, operating results, financial condition and stock price could be materially negatively affected. In some cases, forward-looking statements can be identified by terminology including "goal," "focus," "aims," "expects," "plans," "believes," "can," "could," "challenge," "predictable," "will," or the negative of these terms or other comparable terminology. We operate in a rapidly changing environment and new risks emerge from time to time. As a result, it is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements the Company may make. Risks and uncertainties that may cause actual results to differ materially include, among others, our capital resources, uncertainty regarding the results of future testing and development efforts and other risks that are described in the Risk Factors section of NEMUS's most recent annual or quarterly report filed with the Securities and Exchange Commission. Except as expressly required by law, NEMUS disclaims any intent or obligation to update these forward-looking statements.