adMare and AazeinTx Inc. Sign Global Exclusive Agreement for Promising Acute Asthma Treatment (NEO6860)
CALGARY, AB, May 17, 2021 /CNW/ - adMare BioInnovations ("adMare") and AazeinTx Inc. ("AazeinTx") have closed a global exclusive licensing transaction for a promising acute asthma treatment.
Under the agreement, AazeinTx has acquired all rights to NEO6860, a clinical-stage TRPV1 antagonist in adMare's technology portfolio. A team at the University of Calgary led by Dr. Richard Wilson (AazeinTx's Chief Scientific Officer) discovered a novel neural pathway causing bronchoconstriction during acute asthma. Wilson's team identified the TRPV1 receptor as a druggable target in this pathway. Based on Wilson's preclinical research, AazeinTx proposes to bring a pill-based form of NEO6860 to humans as a rapid, effective, and disruptive technology to treat asthma.
adMare's President and CEO, Gordon C. McCauley commented, "As Canada's global life sciences venture, an essential part of our mission is to help Canadian companies scale-up. Through this transaction, we are delighted to be able to license NEO6860 to AazeinTx, a promising young Calgary-based biotech company, so they can build their pipeline, and realize the significant therapeutic potential of NEO6860. We look forward to continuing our relationship with AazeinTx as they advance their clinical program."
AazeinTx CEO Mark Starratt says, "The global exclusive license to NEO6860 means that AazeinTx can further Dr. Richard Wilson's world-class research, and work toward bringing his ground-breaking discovery to patients around the world. AazeinTx is eager to base the next phase of clinical trials in Canada. We are excited to be bringing together global leaders in clinical development and asthma research to support this initiative."