LUND, Sweden, Feb.
21, 2019 /PRNewswire/ -- NeuroVive Pharmaceutical
AB (Nasdaq Stockholm: NVP, OTCQX:
NEVPF) today announced that the company has entered
into an exclusive agreement to license and supply two of its first
generation of succinate/malonate prodrugs as research tool
compounds to Oroboros Instruments, a global supplier of
mitochondrial research technologies.
NeuroVive have agreed to provide, at scale, two research
compounds, originating from its NVP015 program, on an exclusive
basis to Oroboros. Depending on bulk quantities supplied, the
agreement has the potential to generate revenue to NeuroVive in the
range of €10,000-50,000 per annum. Oroboros will commercialize and
distribute the compounds after completed internal evaluation.
Oroboros Instruments are world leading in the development and
supply of analytical instrumentation and reagents for use in
mitochondrial biology and mitochondrial medicine research and
development.
Eskil Elmér, CSO NeuroVive commented "We are excited to be able
to supply compounds from our succinate prodrug family designated
exclusively for research use to the scientific community. Oroboros
Instruments is the perfect partner to reach thousands of scientists
in the field. These cell permeable compounds, that can stimulate
and inhibit Complex II of the respiratory electron transfer system
in intact cells, will expand the tool box for evaluating the role
of mitochondria in disease. NeuroVive revenues will be modest but
the primary value is that this is part of our mission to promote
the development of mitochondrial medicine research."
The information was submitted for publication, through the
agency of the contact person set out below, at 08:30 a.m. CET on 21
February 2019.
For more information please contact:
Catharina Johansson
CFO, IR & Communications
+46(0)46-275-62-21
ir@neurovive.com
NeuroVive Pharmaceutical AB (publ)
Medicon Village, SE-223 81 Lund,
Sweden
Tel: +46(0)46-275-62-20 (switchboard)
info@neurovive.com
www.neurovive.com
For news subscription, please
visit http://www.neurovive.com/press-releases/subscription-page/
About NeuroVive
NeuroVive Pharmaceutical AB is a leader in mitochondrial
medicine, with one project in clinical phase II development for the
prevention of moderate to severe traumatic brain injury
(NeuroSTAT®) and one project in clinical phase I (KL1333) for
genetic mitochondrial diseases. The R&D portfolio also consists
of projects for genetic mitochondrial disorders, cancer and NASH.
The company advances drugs for rare diseases through clinical
development into the market. For projects for common indications
the goal is out-licensing in the preclinical phase. A subset of
compounds under NeuroVive's NVP015 program has been licenced to
Fortify Therapeutics, a BridgeBio company, for local treatment
development of Leber's Hereditary Optic Neuropathy (LHON).
NeuroVive is listed on Nasdaq Stockholm,
Sweden (ticker: NVP). The share is also traded on the OTCQX
Best Market in the US (OTC: NEVPF).
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NeuroVive enters
commercial partnership with Oroboros Instruments on mitochondrial
medicine research compounds
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