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news.PharmaNess Neuroscience has licenced the rights to a series of novel cannabinoid compounds that selectively target the CB1 and CB2 cannabinoid receptors to US biopharmaceutical company CeNeRx.
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Under the terms of the agreement, CeNeRx has been granted an exclusive worldwide license to develop, manufacture and commercialize the PharmaNess cannabinoid portfolio, currently including over a dozen preclinical compounds.
According to CeNeRx, these compounds may have broad utility, including cannabinoid agonists for pain, glaucoma and other CNS-related disorders, and cannabinoid antagonists for obesity. The companies’ collaboration also includes drug discovery efforts aimed at further expanding their joint cannabinoid portfolio.
“Gaining access to this rich pipeline of cannabinoid compounds represents a unique opportunity for CeNeRx,” said Barry Brand, the company’s CEO. “These compounds work via a novel, yet well-described mechanism-of-action, have excellent selectivity and could potentially be applied to large indications with significant unmet need.”
Under the terms of the agreement, PharmaNess will receive an upfront payment from CeNeRx, as well as development milestones. PharmaNess will also receive royalties on global sales of any commercialized cannabinoid compounds.