MISSISSAUGA, ON, June 20, 2016 /PRNewswire/ - Cipher
Pharmaceuticals Inc. (NASDAQ:CPHR; TSX:CPH) ("Cipher" or "the
Company") today announced that Edesa Biotech Inc. ("Edesa") has
licensed the rights to ASF-1096 (R-salbutamol) for use in anorectal
disorders. ASF-1096 is a phase II product candidate that
Cipher is investigating as a treatment for selected inflammatory
skin disorders. Cipher acquired the global rights to the
product in February 2015. Under this
agreement, Cipher retains all rights to ASF-1096 for dermatological
conditions.
ASF-1096 is the first dermatological agent selectively targeting
the β2-adrenoceptor of dermal inflammatory cells including
keratinocytes and various infiltrating leukocytes. When applied
topically, ASF-1096 penetrates through the stratum corneum and
binds to β2-adrenoceptors, leading to immunomodulatory effects by
reducing inflammatory reactions mediated by CD4+ lymphocytes and
other types of β2-adrenoceptor presenting leukocytes. This results
in a decrease of pro-inflammatory gene products such as IL-2,
TNF-α, and IFN-γ. ASF-1096 was granted Orphan Drug Status by
the European Medicines Agency for the treatment of cutaneous forms
of Lupus Erythematosus.
"Given its novel anti-inflammatory properties, we believe
ASF-1096 has promise as a compound to treat a range of anorectal
disorders, and we're pleased to partner with Edesa to move the
clinical development forward for these indications while we remain
focused on dermatology," said Shawn O'Brien, President &
CEO of Cipher. "We will continue to pursue opportunities to
monetize our commercial products and product candidates in regions
and indications that are not on our strategic roadmap."
Dr. Michael Brooks, VP of
Corporate Development at Edesa, added: "We are very excited to work
with Cipher and to explore the utility of ASF-1096 in anorectal
indications."
Specific terms of the agreement were not disclosed.
About Edesa Biotech Inc
Edesa Biotech Inc.
(http://www.edesabiotech.com/) has several products currently in
development that target dermatological and gastrointestinal
disorders. The company's focus is on treating underserved areas in
Dermatology and Gastroenterology.
About Cipher Pharmaceuticals Inc.
Cipher
Pharmaceuticals (NASDAQ:CPHR; TSX:CPH) is a rapidly growing
specialty pharmaceutical dermatology company with a diversified
portfolio of commercial-stage products with the goal of becoming
the most customer-centric dermatology company in North America.
Through multiple transactions, including the acquisition of
Innocutis and its nine branded dermatology products, Cipher has
built its U.S. commercial presence, expanded its Canadian
dermatology franchise and broadened its pipeline. Cipher is
well-capitalized to drive long-term, sustained earnings growth by
leveraging its proven clinical development capabilities and
efficient commercial execution. For more information, visit
www.cipherpharma.com.
Forward-Looking Statements
Statements made in this
news release may be forward-looking and therefore subject to
various risks and uncertainties. The words "may", "will", "could",
"should", "would", "suspect", "outlook", "believe", "plan",
"anticipate", "estimate", "expect", "intend", "forecast",
"objective", "hope" and "continue" (or the negative thereof), and
words and expressions of similar import, are intended to identify
forward-looking statements. Certain material factors or assumptions
are applied in making forward-looking statements and actual results
may differ materially from those expressed or implied in such
statements. Factors that could cause results to vary include those
identified in the Company's Annual Information Form, Form 40-F and
other filings with Canadian and U.S. securities regulatory
authorities. These factors include, but are not limited to, our
ability to enter into in-licensing, development, manufacturing and
marketing and distribution agreements with other pharmaceutical
companies and keep such agreements in effect; our dependency on a
limited number of products; integration difficulties and other
risks if we acquire or in-license technologies or product
candidates; reliance on third parties for the marketing of certain
products; the product approval process is highly unpredictable; the
timing of completion of clinical trials; reliance on third parties
to manufacture our products; we may be subject to product liability
claims; unexpected product safety or efficacy concerns may arise;
we generate license revenue from a limited number of distribution
and supply agreements; the pharmaceutical industry is highly
competitive; requirements for additional capital to fund future
operations; dependence on key managerial personnel and external
collaborators; no assurance that we will receive regulatory
approvals in the U.S., Canada or
any other jurisdictions; certain of our products are subject to
regulation as controlled substances; limitations on reimbursement
in the healthcare industry; limited reimbursement for products by
government authorities and third-party payor policies; various laws
pertaining to health care fraud and abuse; reliance on the success
of strategic investments and partnerships; the publication of
negative results of clinical trials; unpredictable development
goals and projected time frames; rising insurance costs; ability to
enforce covenants not to compete; risks associated with the
industry in which it operates; we may be unsuccessful in evaluating
material risks involved in completed and future acquisitions; we
may be unable to identify, acquire or integrate acquisition targets
successfully; operations in the U.S.; inability to meet covenants
under our debt obligations; compliance with privacy and security
regulation; our policies regarding returns, allowances and
chargebacks may reduce revenues; certain regulations could restrict
our activities; additional regulatory burden and controls over
financial reporting; reliance on third parties to perform certain
services; general commercial litigation, class actions, other
litigation claims and regulatory actions; being a foreign private
issuer may limit the information available to U.S. shareholders; we
may lose our foreign private issuer status which could result in
significant additional costs; the potential violation of
intellectual property rights of third parties; our efforts to
obtain, protect or enforce our patents and other intellectual
property rights related to our products; changes in U.S., Canadian
or foreign patent laws; litigation in the pharmaceutical
industry concerning the manufacture and supply of novel and generic
versions of existing drugs; inability to protect our trademarks
from infringement; shareholders may be further diluted; volatility
of our share price; a significant shareholder; we do not currently
intend to pay dividends; our operating results may fluctuate
significantly; and our debt obligations will have priority over the
Common Shares in the event of a liquidation, dissolution or winding
up. All forward-looking statements presented herein should be
considered in conjunction with such filings. Except as required by
Canadian or U.S. securities laws, the Company does not undertake to
update any forward-looking statements; such statements speak only
as of the date made
SOURCE Cipher Pharmaceuticals Inc.