GHLV, Pacific Therapeutics Ink LOI

As per the terms of the LOI, the GHLV is expected to pay Pacific an upfront fee, milestone payments for key clinical and regulatory achievements, and royalties on potential future sales.

Repoprtedly, both the parties will share responsibility for all future clinical development and the commercialisation of PTL-202 (a novel patented therapy) on a 50/50 basis.

PTL-202 is a combination of two drugs that are FDA approved for the treatment of diseases other than pulmonary. In an experimental model of chronic lung fibrosis, the drug was shown to be effective at measurably reducing indicators of fibrosis.

Doug Unwin, president and CEO of Pacific Therapeutics, said: “The LOI is an exciting validation of our technology and strategy. Global Health Ventures focus on reformulation and drug delivery, combined with their expertise in allergy; inflammation and clinical development make them an ideal partner for the co-development of PTL-202.”

Hassan Salari, president and CEO of GHLV, said: “PTL-202 represents a novel approach to the treatment of fibrosis and other lung diseases and one that may provide significant advantages over the use of steroids that are known for their limited effectiveness and adverse events. This agreement represents an expansion of the Company’s specialty pharma strategy of reformulation and repurposing approved drugs.”